Elmer Bancorp, Inc. Announces Cash Dividend and Annual Meeting Date

Rhea-AI Summary

Elmer Bancorp, Inc. (OTC Pink: ELMA) declared a cash dividend of $0.17 per common share on April 1, 2021, an increase from $0.16 in November 2020. This dividend is payable on May 3, 2021, to shareholders of record as of April 16, 2021. CEO Brian W. Jones noted the Board's decision aims to provide shareholder returns amid economic uncertainties. The Company also scheduled its Annual Meeting of Shareholders for June 1, 2021, with a record date for voting on April 9, 2021.

Positive

• Dividend increased from $0.16 to $0.17, reflecting confidence in business stability.
• Commitment to shareholder returns despite economic challenges.

Negative

• Ongoing economic uncertainties may impact future dividend sustainability.

ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTC Pink: ELMA), parent company of The First National Bank of Elmer (the “Bank”), announced that the Board of Directors declared a cash dividend on April 1, 2021 in the amount of $0.17 per common share, payable on May 3, 2021 to shareholders of record as of the close of business on April 16, 2021, an increase from the $0.16 per common share paid in November 2020.

Brian W. Jones, President and CEO of the Company stated, “While there are many challenges in the current economic environment, the Board of Directors found it appropriate to provide the shareholders with a return on their investment while remaining cautious about the continuing degree of unpredictability in the market.”

The Company also announced today that its Annual Meeting of Shareholders will be held virtually on Tuesday, June 1, 2021 at 2:00 p.m. Eastern Time. The record date for shareholders to vote at the Annual Meeting is April 9, 2021. Additional information regarding virtual access to the meeting will be distributed prior to the meeting.

The First National Bank of Elmer, a nationally chartered bank headquartered in Elmer, New Jersey, has a long history of serving the community since its beginnings in 1903. We are a community bank focused on providing deposit and loan products to retail customers and to small and mid-sized businesses from our six full service branch offices located in Cumberland, Gloucester and Salem Counties, New Jersey, including our main office located at 10 South Main Street in Elmer, New Jersey. Deposits at The First National Bank of Elmer are insured up to the legally maximum amount by the Federal Deposit Insurance Corporation (FDIC).

View source version on businesswire.com: https://www.businesswire.com/news/home/20210401005883/en/

FAQ

What is the dividend amount declared by Elmer Bancorp?

Elmer Bancorp declared a dividend of $0.17 per common share.

When is the dividend payable?

The dividend is payable on May 3, 2021.

What is the record date for the dividend?

The record date for the dividend is April 16, 2021.

When will Elmer Bancorp's Annual Meeting of Shareholders be held?

The Annual Meeting will be held on June 1, 2021.

How often does Elmer Bancorp pay dividends?

Elmer Bancorp pays dividends quarterly, as indicated by past payments.