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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/lastsale RBNC -2.60% 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/lastsale KRE -4.93% of 1.43% and the S&P 500's /zigman2/quotes/210599714/realtime SPX -1.51% 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/lastsale
US : U.S.: Nasdaq
$ 9.74
-0.26 -2.60%
Volume: 126,242
April 3, 2020 4:00p
P/E Ratio
6.78
Dividend Yield
4.11%
Market Cap
$114.13 million
Rev. per Employee
$299,840
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/zigman2/quotes/200108291/lastsale
US : U.S.: NYSE Arca
$ 29.52
-1.53 -4.93%
Volume: 6.91M
April 3, 2020 8:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
2,488.65
-38.25 -1.51%
Volume: 3.59B
April 3, 2020 5:10p
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