Capital Bancorp Initiates Cash Dividend of $0.05 per Share

Rhea-AI Summary

Capital Bancorp, Inc. (NASDAQ: CBNK) announced a cash dividend of $0.05 per share following its third quarter diluted earnings per share of $0.79. The dividend will be payable on November 30, 2021, to shareholders of record by November 15, 2021. Chairman Steve Schwartz expressed confidence in the company's strong financial performance, underscoring robust asset quality, liquidity, and capital growth. Capital Bancorp, headquartered in Rockville, Maryland, had approximately $2.2 billion in assets as of September 30, 2021.

Positive

• Declared a cash dividend of $0.05 per share, reflecting strong financial performance.
• Third quarter diluted earnings per share of $0.79 indicates profitability.
• Strong asset quality, liquidity, and capital growth reinforce financial stability.

Negative

• None.

ROCKVILLE, Md., Nov. 04, 2021 (GLOBE NEWSWIRE) -- Capital Bancorp, Inc. (NASDAQ: CBNK) (“Company”), the holding company of Capital Bank (“Bank”), announced today that following its third quarter diluted earnings per share of $0.79, the Board of Directors has declared a cash dividend on its common stock of $0.05 per share. The dividend is payable on November 30, 2021 to shareholders of record as of November 15, 2021.

“I am pleased to announce that our Board believes that our strong and consistent financial performance enables us to initiate the second quarterly cash dividend to our shareholders,” said Steve Schwartz, Chairman of the Board of the Company. "The dividend demonstrates continued 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 September 30, 2021. Capital Bancorp has been providing financial services since 1999 and now operates bank branches in five locations in the greater Washington, D.C. and Baltimore, Maryland markets. Capital Bancorp had assets of approximately $2.2 billion at September 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 for CBNK and when is it payable?

Capital Bancorp, Inc. has declared a cash dividend of $0.05 per share, payable on November 30, 2021.

When is the record date for the CBNK dividend?

The record date for the dividend is November 15, 2021.

What were Capital Bancorp's earnings per share for the third quarter?

The third quarter diluted earnings per share for Capital Bancorp, Inc. was $0.79.

How strong is Capital Bancorp's financial position?

Capital Bancorp reported strong asset quality, liquidity, and capital, with approximately $2.2 billion in assets.