MIDLAND, Mich., Feb. 22 /PRNewswire/ -- Alan W. Ott, Chairman of Chemical
Financial Corporation (Nasdaq: CHFC), announced that on February 21, 2000, the
board of directors of the Company declared a quarterly cash dividend of $0.22
per share of common stock payable on Friday, March 17, 2000, to shareholders
of record on March 3, 2000. The ex-dividend date is March 1, 2000.
Mr. Ott indicated that the first quarter cash dividend represents a 10%
increase over the cash dividend paid in the preceding quarter. The $.01 per
share increase in the first quarter cash dividend, coupled with the fact that
the dividend is being paid on the increased number of shares outstanding as a
result of the 5% stock dividend issued on January 21, 2000, produces the
overall 10% increase.
Chemical Financial Corporation is one of the ten largest bank holding
companies in Michigan, and the Company's ten subsidiary Banks operate 87
"Chemical Bank" offices in 24 counties across the mid-section of Michigan's
lower peninsula. 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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Company News On-Call:
http://www.prnewswire.com/comp/157448.html or fax,
800-758-5804, ext. 157448
CONTACT:
Aloysius J. Oliver, 517-839-5352, or Lori A.
Gwizdala, 517-839-5358, both of Chemical Financial Corporation
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