TowneBank sets dividend

Published 9:05 pm Thursday, May 19, 2016

Suffolk-based TowneBank has announced a second-quarter shareholder cash dividend of 13 cents per common share payable on July 12 to shareholders of record on June 30, 2016.

The dividend, which equates to 52 cents per common share on an annual basis, represents an 8.3-percent increase from the previous dividend rate.

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