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Southern Michigan Bancorp ups dividend by 1 cent

Southern Michigan Bancorp Inc.'s board declared a quarterly cash dividend of 22 cents per common share, up from the previous payout of 21 cents per share.

The dividend will be distributed July 20 to the Coldwater, Mich.-based company's shareholders of record as of July 10.

Southern Michigan Bancorp is the holding company of Southern Michigan Bank & Trust.