DARIEN, Ga., Feb. 12 /PRNewswire-FirstCall/ -- Southeastern Banking Corporation (BULLETIN BOARD: SEBC) announced today that its Board of Directors approved a 32% reduction in the quarterly dividend from $0.125 per share to $0.085 per share. The reduction reflects the Company's proactive management of capital through a continuing period of economic uncertainty in the financial industry. The dividend reduction strengthens the Company's overall balance sheet by retaining not only capital but also cash. The announced dividend will be payable March 10 to shareholders of record at the close of business on February 25.
Southeastern Banking Corporation is the parent holding company of Southeastern Bank, headquartered in Darien, Georgia.
