$TOWN

TowneBank Raises Quarterly Dividend to $0.28 a Share From $0.27, Payable July 10 to Holders of Record June 26

TowneBank Raises Quarterly Dividend to $0.28 a Share From $0.27, Payable July 10 to Holders of Record June 26

Keefe, Bruyette & Woods Downgrades TowneBank to Market Perform From Outperform, Cuts Price Target to $38 From $42

TowneBank Declares One-Time Special Dividend After Closing Sale of Resort Property Management Business

TowneBank (TOWN) has declared a one-time special dividend of $0.70 per common share, payable May 20 to shareholders of record on May 4, the company said Thursday.The special dividend was declared after TowneBank's $250 million sale of its Resort Property Management business closed on April 3, according to a statement.The total dividend payout of roughly $65 million is about 32% of the estimated $203 million gain from the sale, before taxes and deal costs, the company said.Price: $34.55, Change: $-0.90, Percent Change: -2.54%