Chemical Financial Boosts Cash Dividend 4.8%

(RTTNews) - Chemical Financial Corp. (CHFC) said Tuesday that its Board of Directors has declared a third quarter 2013 cash dividend on its common stock of $0.22 per share, representing a 4.8% increase over the second quarter 2013 cash dividend of $0.21 per share.

The third quarter 2013 dividend will be payable on September 20 to shareholders of record on September 6. The ex-dividend date is September 4.

"Chemical Financial Corporation's financial performance and strong balance sheet have allowed us to increase our dividend for the second consecutive year," said David Ramaker, Chairman of the Board, CEO & President. "While the Board of Directors remains committed to returning a portion of earnings to shareholders, the current economic and regulatory environments, as well as capital needs for growth opportunities, dictate a continued conservative approach to capital management."