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 March 15, 2010, to shareholders of record on February 26, 2010. This cash dividend is equal to that paid in the fourth quarter of 2009.
Thomas G. Caldwell, President and Chief Executive Officer of Middlefield, commented, “Our company continued to be profitable during the last year, albeit it at a lower level than the prior year. Our board of directors, therefore, believes it appropriate to continue the same level of cash dividend. As uncertainty continues in the markets during 2010, we will continue to work to meet the expectations of and to reward our shareholders for their confidence in our stewardship.”
Middlefield Banc Corp., headquartered in Middlefield, Ohio, is a financial holding company with total assets of $558.7 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.