Smartfinancial, Inc. ("Smartfinancial") (NYSE: SMBK) has announced a regular quarterly cash dividend of $0.08 per share of Smartfinancial common stock payable on March 2, 2026. This dividend is payable to shareholders of record as of the close of business on February 13, 2026. Additionally, the board of directors authorized a stock repurchase plan, the "2026 Repurchase Plan," which allows Smartfinancial to repurchase up to an aggregate amount of $10 million of its shares of common stock.
The 2026 Repurchase Plan will become effective on March 1, 2026, and will expire on February 28, 2027, unless extended by the board. It replaces Smartfinancial’s prior stock repurchase plan, which will be terminated when the 2026 Repurchase Plan becomes effective. Repurchases under the 2026 Repurchase Plan may be made from time to time in the open market, by accelerated share repurchase programs, in privately negotiated transactions, or otherwise in compliance with rule 10b-18 of the Securities Exchange Act of 1934, subject to applicable regulatory requirements and other factors considered by Smartfinancial in its sole discretion. Additionally, repurchases may be made pursuant to a trading plan under rule 10b5-1 of the Exchange Act.
Smartfinancial, Inc., the publicly-traded bank holding company for Smartbank, is based in Knoxville, Tennessee. Smartbank is a full-service commercial bank with branches across Tennessee, Alabama, and Florida. The company's disciplined approach to lending, strategic branching, exceptional client service, and recruitment of the best people have contributed to its success.
As of the announcement date, the details of the previous period's dividend and share repurchase program are not provided in the press release. As a result of these announcements, the company's shares have moved -0.18% on the market, and are now trading at a price of $39.42. For more information, read the company's full 8-K submission here.
