MIDLAND, Mich., Jan. 21 /PRNewswire-FirstCall/ -- Aloysius J. Oliver,
Chairman of Chemical Financial Corporation (Nasdaq: CHFC), announced that on
January 20, 2003, the board of directors of the Company declared a quarterly
cash dividend of $0.25 per share of common stock payable on Friday, March 21,
2003, to shareholders of record on March 7, 2003. The ex-dividend date is
March 5, 2003.
In announcing the higher cash dividend, Oliver indicated that the new
quarterly rate of $0.25 per share is in accordance with the Company's previous
announcement that the cash dividend would be increased to this level with the
first quarterly dividend of 2003. The $0.25 per share dividend for the first
quarter of 2003 represents a 9.4% increase over the per share dividend paid in
the previous quarter, adjusted for the 5% stock dividend payable on
January 24, 2003.
Chemical Financial Corporation is the fourth largest bank holding company
headquartered in Michigan. The Company's four Subsidiary Banks operate 129
"Chemical Bank" offices and 2 loan production offices spread over 32 counties
in the lower peninsula of Michigan. CFC Data Corp, Midland, is the Company's
wholly owned data processing subsidiary.
Chemical Financial Corporation common stock trades on the Nasdaq Stock
Market under the symbol "CHFC".
SOURCE Chemical Financial Corporation
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Related links:
http://chemicalbankmi.com
Company News On-Call:
http://www.prnewswire.com/comp/157448.html
CONTACT:
David B. Ramaker, President & CEO of Chemical
Financial Corporation, +1-989-839-5269
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