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March 29, 2018, 8:43 a.m. EDT

Reliant Bancorp raises dividend 33%

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By Tomi Kilgore

Reliant Bancorp Inc. /zigman2/quotes/209472214/composite RBNC -1.19% said Thursday it has raised its quarterly dividend by 33% to 8 cents a share from 6 cents a share. The new dividend will be payable April 20 to shareholders of record on April 10. Based on Wednesday's stock closing price of $22.25, the new annual dividend rate implies a dividend yield of 1.44%, compared with the payout yield for the SPDR S&P Regional Banking ETF /zigman2/quotes/200108291/composite KRE +1.96% of 1.43% and the S&P 500's /zigman2/quotes/210599714/realtime SPX -0.80% implied dividend yield of 1.98%, according to FactSet. Reliant's stock, which was still inactive in premarket trade, has shed 13% over the past three months, while the regional banking ETF has gained 1.8% and the S&P 500 has slipped 2.6%.

/zigman2/quotes/209472214/composite
US : U.S.: Nasdaq
$ 15.72
-0.19 -1.19%
Volume: 37,115
Aug. 11, 2020 4:00p
P/E Ratio
13.26
Dividend Yield
2.54%
Market Cap
$264.61 million
Rev. per Employee
$299,840
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/zigman2/quotes/200108291/composite
US : U.S.: NYSE Arca
$ 41.18
+0.79 +1.96%
Volume: 11.74M
Aug. 11, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,333.69
-26.78 -0.80%
Volume: 2.90B
Aug. 11, 2020 5:08p
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