The board of Heartland BancCorp increased the company's quarterly cash dividend to 47.31 cents per share, payable April 10 to shareholders of record as of March 25.
The company paid 43.01 cents per share in the previous quarter.
The Gahanna, Ohio-based company on Feb. 2 reported net income of $2.1 million, or $1.25 per share, in the fourth quarter of 2017. A year ago, the net income was $2.2 million, or $1.33 per share.
The recent quarter's earnings results included a one-time net tax charge of $541,000, or 29 cents per share, due to the recent U.S. tax reform. Of this, $498,000 is related to the write-down of the company's deferred tax assets and liabilities, while the remaining $43,000 is related to the market value adjustment on bonds held as available-for-sale.
