MIDLAND, Mich., Dec. 9 /PRNewswire-FirstCall/ -- Aloysius J. Oliver,
Chairman of Chemical Financial Corporation (Nasdaq: CHFC), announced that on
December 8, 2003, the board of directors of the Company declared a quarterly
cash dividend of $0.265 per share of common stock, representing a 6% increase
over the fourth quarter 2003 dividend. The higher dividend will be payable on
Friday, March 19, 2004, to shareholders of record on March 5, 2004. The ex-
dividend date is March 3, 2004. In declaring this dividend, the board
indicated its intent to continue this quarterly dividend rate throughout 2004
resulting in a 6% increase in cash dividends. The year of 2004 will mark the
thirtieth consecutive year of annual dividend increases paid to Chemical
Financial Corporation shareholders.
Chemical Financial Corporation is the fourth largest bank holding company
headquartered in Michigan. The Company's four Subsidiary Banks operate 133
"Chemical Bank" offices and 2 loan production offices spread over 33 counties
in the lower peninsula of Michigan.
Chemical Financial Corporation common stock trades on the NASDAQ Stock
Market under the symbol "CHFC."
Forward Looking Statements
This press release contains forward-looking statements. Words such as
"anticipates," "believes," "estimates," "expects," "intends," "should,"
"will," variations of such words and similar expressions are intended to
identify forward-looking statements. These statements reflect management's
current beliefs as to the expected outcomes of future events and are not
guarantees of future performance. These statements involve certain risks,
uncertainties and assumptions that are difficult to predict with regard to
timing, extent, likelihood and degree of occurrence. Therefore, actual
results and outcomes may materially differ from what may be expressed or
forecasted in such forward-looking statements. Factors that could cause a
difference include, among others: changes in the national and local economies
or market conditions; changes in interests rates and banking regulations; the
impact of competition from traditional or new sources; and the possibility
that anticipated cost savings and revenue enhancements from mergers and
acquisitions and bank consolidations may not be fully realized at all or
within the expected time frames. These and other factors that may emerge
could cause decisions and actual results to differ materially from current
expectations. Chemical undertakes no obligation to revise, update, or clarify
forward-looking statements to reflect events or conditions after the date of
this release.
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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