The Heritage Land Bank board of directors has announced that it will return a cash dividend of $4.3 million to member-borrowers in north and east Texas.
“We will return more than $4.3 million of our 2021 net income to eligible customer-owners,” said Bill Tandy, chief executive officer of Heritage Land Bank. “This is equal to 45% of our net income, a record level of return that reflects our ongoing commitment to share our cooperative’s success with our member-borrowers.”
Heritage Land Bank has been returning a portion of its profits to borrowers for 28 of the last 29 years, a total of $51.8 million in cash dividends paid since 2000. Dividends are paid in full and in cash annually, enabling borrowers to invest in their operations, families, and communities.
A full summary of Heritage Land Bank’s 2021 financial performance is available in the 2021 Annual Report, available for download by clicking here.