Fidelity D & D Bancorp, Inc. Announces Eight Consecutive Year Increase with 9% Increase of Fourth Quarter 2022 Dividend

Rhea-AI Summary

The Board of Directors of Fidelity D & D Bancorp (NASDAQ: FDBC) has declared a fourth-quarter dividend of $0.36 per share, marking a 9% increase from the previous dividend of $0.33. This increase represents the eighth consecutive year of enhanced dividends, reflecting the company’s commitment to sustainable growth and shareholder value. The dividend is payable on December 9, 2022, to shareholders of record by November 18, 2022. The company attributes this decision to improved revenue levels and successful integration of recent acquisitions.

Positive

• Dividend increase of 9% to $0.36 per share enhances shareholder returns.
• Eighth consecutive year of dividend growth reflects strong company performance.
• Successful integration of acquisitions contributes to revenue improvement.

Negative

• None.

DUNMORE, Pa., Oct. 19, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC), parent company of The Fidelity Deposit and Discount Bank, announce their declaration of the Company’s fourth quarter dividend of $0.36 per share, a 9% increase above the prior quarterly cash dividend of $0.33 per share.

“We are very proud to announce a dividend increase for the eighth consecutive year. This cash dividend increase demonstrates the Board of Director’s and the Fidelity Bankers’ commitment to sustainably increasing shareholder value, while continuing investment back into the Company in a meaningful way that drives profitable growth,” stated Daniel J. Santaniello, President and Chief Executive Officer.  “The improvement in revenue levels from growth along with the successful integration of both acquisitions lead to this prudent decision.”

The cash dividend of $0.36 per share is payable December 9, 2022 to shareholders of record at the close of business on November 18, 2022.

Fidelity D & D Bancorp, Inc. serves Lackawanna, Luzerne, Northampton and Lehigh Counties through The Fidelity Deposit and Discount Bank’s 21 full-service community banking offices, along with the Fidelity Bank Wealth Management Minersville Office in Schuylkill County. Fidelity Bank provides a digital and virtual experience via digital services and digital account opening through Online Banking and the Fidelity Mobile Banking app.

For more information visit our investor relations web site through www.bankatfidelity.com.

This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Actual results and trends could differ materially from those set forth in such statements due to various factors.  These factors include the possibility that increased demand or prices for the company’s financial services and products may not occur, changing economic, interest rate and competitive conditions, technological developments and other risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission.

Contacts:
Daniel J. Santaniello President and Chief Executive Officer 570-504-8035	Salvatore R. DeFrancesco, Jr. Treasurer and Chief Financial Officer 570-504-8000

FAQ

What is the dividend amount declared by Fidelity D & D Bancorp?

Fidelity D & D Bancorp has declared a dividend of $0.36 per share.

When is the dividend payable to shareholders for FDBC?

The dividend is payable on December 9, 2022, to shareholders of record as of November 18, 2022.

How many consecutive years has Fidelity D & D Bancorp increased its dividend?

Fidelity D & D Bancorp has increased its dividend for eight consecutive years.