Summit Financial Group, Inc. operates as a financial holding company for Summit Community Bank, Inc. that provides community banking and other financial services to individuals and businesses primarily in the Eastern Panhandle, Southern and North Central regions of West Virginia and the Northern, Shenandoah Valley, and Southwestern regions of Virginia, and the Central region of Kentucky. The company's community banking services include demand, savings, and time deposits; commercial, commercial real estate, construction and land development, residential real estate, and consumer loans; and mortgage warehouse lines of credit, as well as trust and wealth management, cash management, and insurance services. As of December 31, 2021, it operated through 45 banking offices. The company was incorporated in 1987 and is headquartered in Moorefield, West Virginia.
Summit Financial Dividend Announcement
• Summit Financial announced a quarterly dividend of $0.22 per ordinary share which will be made payable on 2024-03-29. Ex dividend date: 2024-03-14
• Summit Financial annual dividend for 2024 was $0.22
• Summit Financial annual dividend for 2023 was $0.84
• Summit Financial's trailing twelve-month (TTM) dividend yield is 1.71%
• Summit Financial's payout ratio for the trailing twelve months (TTM) is 23.24%
• Summit Financial's dividend growth over the last five years (2018-2023) was 9.65% year
Summit Financial Dividend History
Ex-Div date | Dividend amount | Dividend type | Pay date |
---|---|---|---|
2024-03-14 | $0.22 | quarterly | 2024-03-29 |
2023-12-14 | $0.22 | quarterly | 2023-12-29 |
2023-09-14 | $0.22 | quarterly | 2023-09-29 |
2023-06-14 | $0.20 | quarterly | 2023-06-30 |
2023-03-14 | $0.20 | quarterly | 2023-03-31 |
2022-12-14 | $0.20 | quarterly | 2022-12-30 |
2022-09-14 | $0.20 | quarterly | 2022-09-30 |
2022-06-14 | $0.18 | quarterly | 2022-06-30 |
2022-03-14 | $0.18 | quarterly | 2022-03-31 |
2021-12-14 | $0.18 | quarterly | 2021-12-31 |
2021-09-14 | $0.18 | quarterly | 2021-09-30 |
2021-06-14 | $0.17 | quarterly | 2021-06-30 |
2021-03-12 | $0.17 | quarterly | 2021-03-31 |
2020-12-14 | $0.17 | quarterly | 2020-12-31 |
2020-09-14 | $0.17 | quarterly | 2020-09-30 |
2020-06-12 | $0.17 | quarterly | 2020-06-30 |
2020-03-13 | $0.17 | quarterly | 2020-03-31 |
2019-12-13 | $0.15 | quarterly | 2019-12-31 |
2019-09-13 | $0.15 | quarterly | 2019-09-30 |
2019-06-13 | $0.15 | quarterly | 2019-06-28 |
2019-03-14 | $0.14 | quarterly | 2019-03-29 |
2018-12-13 | $0.14 | quarterly | 2018-12-31 |
2018-09-13 | $0.13 | quarterly | 2018-09-28 |
2018-06-14 | $0.13 | quarterly | 2018-06-29 |
2018-03-14 | $0.13 | quarterly | 2018-03-30 |
2017-12-14 | $0.11 | quarterly | 2017-12-29 |
2017-09-14 | $0.11 | quarterly | 2017-09-30 |
2017-06-13 | $0.11 | quarterly | 2017-06-30 |
2017-03-13 | $0.11 | quarterly | 2017-03-31 |
2016-12-13 | $0.10 | quarterly | 2016-12-30 |
2016-09-13 | $0.10 | quarterly | 2016-09-30 |
2016-06-13 | $0.10 | quarterly | 2016-06-30 |
2016-03-11 | $0.10 | quarterly | 2016-03-31 |
2015-12-11 | $0.08 | quarterly | 2015-12-31 |
2015-09-11 | $0.08 | quarterly | 2015-09-30 |
2015-06-11 | $0.08 | quarterly | 2015-06-30 |
2015-03-12 | $0.08 | quarterly | 2015-03-31 |
2009-05-28 | $0.06 | quarterly | 2009-06-15 |
2008-11-26 | $0.18 | quarterly | 2008-12-15 |
2008-05-29 | $0.18 | quarterly | 2008-06-16 |
Summit Financial Dividend per year
Summit Financial Dividend growth
Summit Financial Dividend Yield
Summit Financial current trailing twelve-month (TTM) dividend yield is 1.71%. Interested in purchasing Summit Financial stock? Use our calculator to estimate your expected dividend yield:
Summit Financial Financial Ratios
Summit Financial Dividend FAQ
Other factors to consider when evaluating Summit Financial as a dividend stock include its dividend yield, dividend growth, payout ratio, and the sustainability of its dividend payments given its earnings and cash flow. These factors can provide insight into the company's ability to maintain or increase its dividend in the future.
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1. Determination of Dividend: Summit Financial's board of directors reviews the company's financial performance, cash flow, future investment needs, and other relevant factors to determine the amount and timing of dividend payments.
2. Dividend Declaration: Once the board approves a dividend, Summit Financial publicly announces the dividend amount, currency, and the ex-dividend date. The ex-dividend date is the date on or after which the buyer of the stock will not be eligible to receive the upcoming dividend payment.
3. Record Date: The record date is the date on which the company checks its records to identify shareholders who are eligible to receive the dividend. Only shareholders on record as of this date will receive the dividend.
4. Payment Date: On the designated payment date, Summit Financial distributes the dividend to eligible shareholders. The dividend is usually paid in the form of cash directly into the shareholder's brokerage account or through other designated payment methods.
5. Tax Implications: Dividends received from Summit Financial are generally taxable as income. Shareholders may need to report dividend income on their tax returns and pay applicable taxes according to their jurisdiction's tax regulations.
1. Record Date: Summit Financial sets a record date, which is the date on which the company checks its records to determine the eligible shareholders. Only those who are shareholders on record as of this date will receive the dividend.
2. Payment Date: On the designated payment date, Summit Financial distributes the dividend to eligible shareholders. The payment is usually made electronically, directly into the shareholder's brokerage account or bank account.
3. Currency: Summit Financial declares the currency in which the dividend will be paid. Depending on the shareholder's location and the currency election made by the shareholder, the dividend will be converted to the appropriate currency during the payment process.
To assess the safety of Summit Financial's dividend, it is crucial to analyze the company's financial health, debt levels, cash flow generation, and ability to sustain dividend payments over the long term. Additionally, monitoring the company's future earnings, cash flow projections, and management's commitment to dividend policies can provide valuable insights.
It is recommended to review Summit Financial's financial reports, official announcements, and consult with financial advisors or experts who have access to the most current and comprehensive information about the company's financial situation.