Middlefield Banc (MBCN) will raise its quarterly dividend by 3.8 percent to $0.27 per share. This is the first dividend hike by the company since 2008, when the quarterly payment was raised from 25 cents to 26 cents per share.

Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the bank holding company of The Middlefield Banking Company. The bank operates full-service banking centers and an LPL Financial brokerage office serving Beachwood, Chardon, Cortland, Dublin, Garrettsville, Mantua, Middlefield, Newbury, Orwell, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio. The company has paid a dividend every year since 2006.