Capital Bancorp Initiates Cash Dividend of $0.05 per Share 

Rhea-AI Summary

Capital Bancorp, Inc. (NASDAQ: CBNK) has declared a cash dividend of $0.05 per share following its second quarter earnings per share of $0.68. The dividend will be payable on August 16, 2021, to shareholders of record as of July 30, 2021. Chairman Steve Schwartz emphasized the company's strong financial performance and the Board's commitment to enhancing shareholder value, citing strong asset quality, liquidity, and capital growth.

Positive

• Declaring a cash dividend of $0.05 per share reflects strong financial performance.
• Earnings per share of $0.68 indicates profitability.
• Confident outlook for future performance boosts investor sentiment.

Negative

• None.

ROCKVILLE, Md., July 27, 2021 (GLOBE NEWSWIRE) -- Capital Bancorp, Inc. (NASDAQ: CBNK) (“Company”), the holding company of Capital Bank (“Bank”) announced today that following its second quarter diluted earnings per share of $0.68, the Board of Directors has declared a cash dividend on its common stock of $0.05 per share.  The dividend is payable on August 16, 2021 to shareholders of record as of July 30, 2021.

“I am pleased to announce that our Board believes that our strong and consistent financial performance enables us to initiate a modest quarterly cash dividend to our shareholders,” said Steve Schwartz, Chairman of the Board of the Company. "The dividend demonstrates confidence in the Company’s performance outlook and our Board's commitment to enhancing shareholder value. Asset quality, liquidity, and capital are all strong, and we continue to generate meaningful capital growth, bolstering our fortress balance sheet.”

ABOUT CAPITAL BANCORP, INC.
Capital Bancorp, Inc., Rockville, Maryland is a registered bank holding company incorporated under the laws of Maryland. The Company’s wholly-owned subsidiary, Capital Bank, N.A., is the fifth largest bank headquartered in Maryland at June 30, 2021. Capital Bancorp has been providing financial services since 1999 and now operates bank branches in four locations in the greater Washington, D.C. and Baltimore, Maryland markets. Capital Bancorp had assets of approximately $2.2 billion at June 30, 2021 and its common stock is traded in the NASDAQ Global Market under the symbol “CBNK.” More information can be found at the Company's website www.CapitalBankMD.com under its investor relations page.

FINANCIAL CONTACT: Alan Jackson (240) 283-0402

MEDIA CONTACT: Ed Barry (240) 283-1912

 

FAQ

What is the dividend amount declared by Capital Bancorp (CBNK)?

Capital Bancorp has declared a cash dividend of $0.05 per share.

When will the dividend be paid to shareholders of Capital Bancorp (CBNK)?

The dividend will be payable on August 16, 2021.

What were the diluted earnings per share for Capital Bancorp (CBNK) in the second quarter?

The diluted earnings per share for the second quarter were $0.68.

Who is the Chairman of Capital Bancorp (CBNK)?

The Chairman of Capital Bancorp is Steve Schwartz.