MIDDLEFIELD, OHIO Middlefield Banc Corp. (Pink Sheets: MBCN) today announced that the company’s board of directors has declared a quarterly cash dividend of $0.26 per common share payable on June 15, 2009, to shareholders of record on May 29, 2009. This cash dividend represents an amount equal to that paid in the prior quarter of 2009 as well as the amount paid during the second quarter of 2008.
Thomas G. Caldwell, President and Chief Executive Officer of Middlefield, commented, “We are pleased to maintain our level of cash dividend. Many within the industry have dramatically reduced the return to their shareholders. However, our board believes that our shareholders deserve to share in the continued positive earnings of the company. The confidence that our investors have placed in our stewardship is sincerely appreciated and we will continue our efforts to provide a proper return for that trust.”
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a financial holding company with total assets of $473.4 million. Its subsidiary, The Middlefield Banking Company, operates full service banking centers and a UVEST Financial Services® brokerage office serving Chardon, Cortland, Garrettsville, Mantua, Middlefield, Newbury and Orwell, Ohio. The company also serves the central Ohio market through its Emerald Bank subsidiary, with offices in Dublin and Westerville, Ohio. Additional information is available at www.middlefieldbank.com and www.emeraldbank.com.
This announcement contains forward-looking statements that involve risk and uncertainties, including changes in general economic and financial market conditions and the Company’s ability to execute its business plans. Although management believes the expectations reflected in such statements are reasonable, actual results may differ materially.