Filing Overview
Richmond Mutual Bancorporation, Inc. filed a Form 8-K dated May 20, 2020, reporting results of its annual shareholder meeting held on May 20, 2020. The filing was signed and the related dividend announcement was issued on May 21, 2020.
Business Context and Reporting Period
The filing concerns corporate governance matters and a cash dividend declaration. Shareholders of record as of March 26, 2020 were entitled to vote on two proposals.
Key Financial and Capital Metrics
- Cash dividend declared: $0.05 per common share.
- Dividend payment date: June 18, 2020.
- Dividend record date: June 4, 2020.
- The filing does not provide revenue, profit, cash flow, margin, debt, liquidity, or other operating financial metrics.
Shareholder Voting Results
| Director | For | Withheld | Broker Non-Votes | Term |
|---|---|---|---|---|
| Harold T. Hanley, III | 7,694,941 | 409,502 | 2,660,991 | Expires 2022 |
| Lindley S. Mann | 7,268,519 | 835,924 | 2,660,991 | Expires 2023 |
| W. Ray Stevens, III | 7,126,915 | 977,528 | 2,660,991 | Expires 2023 |
| Kathryn Girten | 7,232,295 | 872,148 | 2,660,991 | Expires 2023 |
All four director nominees were elected. Shareholders also ratified BKD LLP as the independent registered public accounting firm for the year ending December 31, 2020.
- Accounting firm ratification: 10,479,891 for, 222,301 against, and 63,242 abstentions.
Material Changes, Outlook, and Unusual Items
The principal reported change was the declaration of the $0.05 per-share cash dividend. The filing provides no management guidance, operating outlook, risk update, contingency disclosure, or explanation of unusual items.
Important Facts to Verify
- Confirm the dividend record date of June 4, 2020 and payment date of June 18, 2020.
- Verify the elected directors’ term expirations and subsequent board composition.
- Review the attached May 21, 2020 press release for any additional dividend or business commentary.
- Consult the Company’s periodic financial filings for current earnings, asset quality, capital, liquidity, and debt information, which are not included in this 8-K.