SOURCE: Princeton National Bancorp, Inc.

February 05, 2007 16:06 ET

Princeton National Bancorp, Inc. Increases Dividend 3.8%

PRINCETON, IL -- (MARKET WIRE) -- February 5, 2007 -- Princeton National Bancorp, Inc. (NASDAQ: PNBC)

The Board of Directors increased the dividend to $.27 per share, payable February 26, 2007, to those shareholders of record as of February 9, 2007. This represents a 3.8% increase over the November 2006 dividend and a 12.5% increase as compared to the February 2006 dividend. This is the Company's 88th consecutive dividend.

President Tony J. Sorcic stated, "The total dividends per share for 2006 were $1.05 (including the special dividend of $.05 per share). Based on the annual dividend of $1.00 per share and the closing year-end stock price of $32.55 per share, the annualized dividend yield was 3.07%. Including the special dividend, the yield was 3.23%. This represents an increase from the 2005 yields of 2.65% and 3.10%, respectively. The dividend has been increased nine times over the last twelve quarters and this is the sixth consecutive year the Company has declared a special dividend. This is also the seventh consecutive year PNBC has increased the annualized dividend to shareholders. The Company's goal to share its success with shareholders is evidenced by the continued increase in the total dividends."

Princeton National Bancorp, Inc. is the parent holding company of Citizens First National Bank, a $1.032 billion community bank with strategic locations in 7 counties in northern Illinois. The Company is well-positioned in the counties of Kendall, Kane, Grundy, DeKalb, LaSalle, Bureau and Marshall. Communities include: Aurora, DePue, Genoa, Hampshire, Henry, Huntley, Millbrook, Minooka, Newark, Oglesby, Peru, Plano, Princeton, Sandwich, Somonauk and Spring Valley. The Subsidiary Bank provides financial services to meet the needs of individuals, businesses and public entities.

Contact Information

  • Inquiries should be directed to:
    Lou Ann Birkey
    Vice President - Investor Relations,
    Princeton National Bancorp, Inc.
    (815)875-4444
    E-Mail address: Email Contact