Mission Valley Bancorp, the parent company of Mission Valley Bank, announced dividends  for the current quarter Wednesday.

A cash dividend of $0.10 per share, was announced by President and CEO Tamara Gurney. This represents a $0.02 increase from the prior dividend issued in November 2016 on its outstanding common stock.  

The dividend was approved by the Board of Directors on Oct. 31, 2017 and will be payable on or about Dec. 15, to common shareholders of record as of Nov. 30.

“The issuance of this, our third cash dividend to our common shareholders, reflects Mission Valley’s continuing strong performance and optimism toward the future,” Gurney said. “The bank’s strong capital position and robust earnings has served to enhance shareholder value and allowed us this opportunity to reward our shareholders.”  

Since the bank’s inception sixteen years ago, the company has issued four stock splits followed by its first cash dividend to common shareholders in early 2015.

“Our Directors recognize the importance of capital planning coupled with an appropriate dividend strategy,” Gurney said. “With the bank’s continuing steady performance throughout the year, our board felt an increase in the dividend was appropriate.”

Mission Valley Bank is a full-service, independent, commercial bank specializing in the banking needs of small to medium businesses in the San Fernando & Santa Clarita Valleys. The bank was chartered in July 2001, with a vision of local ownership and a commitment to providing financial solutions to meet the needs of its clients.   Mission Valley Bancorp is traded on the OTCQX under the symbol MVLY.

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