Middlefield Banc (MBCN) will raise its quarterly dividend to $0.27 per share. Also a $0.05 per share special dividend will be paid in the first quarter of 2018.

The new dividend will be payable on March 15, 2018, to shareholders of record on February 28, 2018. The Board also approved a one-time bonus of $1,000 to each employee.

“On behalf of the Board of Directors, I am extremely pleased to announce Middlefield’s plan to return capital to our shareholders and all of our 190 employees,” stated Thomas G. Caldwell, President and Chief Executive Officer. “As a community bank, Middlefield is dedicated to supporting its local communities. Many of our employees and shareholders are our neighbors, friends, and family members, and returning capital to these important stakeholders is a meaningful way to reinvest in our local communities.”

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.