First Guaranty Bancshares, Inc. announced a further reduction in its common stock dividend, bringing it down to just $0.01 per share. This marks the second dividend reduction made by the Louisiana-based bank within the year, following an earlier cut in the third quarter of 2024.
The decision to reduce the dividend to a penny per share is part of the company's ongoing strategy to bring down expenses and generate more capital. This action underscores the bank's commitment to capital preservation amidst its broader strategic adjustments.
The dividend of $0.01 per share is scheduled to be paid on December 31, 2024. This move is expected to contribute to strengthening the bank's financial position by retaining more earnings within the company.
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