Mid-Southern Bancorp, Inc. Announces a 50 Percent Increase in its Quarterly Cash Dividend

Rhea-AI Summary

Mid-Southern Bancorp, Inc. (Nasdaq:MSVB) announced a quarterly cash dividend of $0.06 per share, marking a 50% increase from the previous dividend of $0.04. This cash dividend will be payable on November 25, 2022, to shareholders of record as of November 10, 2022. The decision on future dividends will depend on various factors including financial condition, earnings, and regulatory requirements. The Bank operates primarily in Indiana and Kentucky, focusing on banking services.

Positive

• 50% increase in quarterly dividend, enhancing shareholder income
• Positive cash flow and financial health indicated by dividend growth

Negative

• Dividend payments are at the discretion of the Board, indicating potential uncertainty
• Forward-looking statements highlight risks from economic conditions and regulatory changes

SALEM, Ind., Oct. 26, 2022 (GLOBE NEWSWIRE) -- Mid-Southern Bancorp, Inc. (“Company”) (Nasdaq:MSVB), the holding company for Mid-Southern Savings Bank, FSB (“Bank”), announced that its Board of Directors declared a quarterly cash dividend of $0.06 per share on the Company’s outstanding common stock, an increase of 50 percent versus the prior quarterly dividend rate of $0.04 per share. The cash dividend will be payable on November 25, 2022 to shareholders of record as of the close of business on November 10, 2022. The declaration and payment of future dividends to holders of the Company’s common stock will be at the discretion of the Board of Directors, and will depend upon many factors, including the Company’s financial condition, earnings, capital requirements of its businesses, legal requirements, regulatory constraints, industry practice, and other factors that the Board of Directors deems relevant.

About the Company

Mid-Southern Bancorp, Inc. is the parent of Mid-Southern Savings Bank, FSB. The Bank is a federally chartered savings bank headquartered in Salem, Indiana, approximately 40 miles northwest of Louisville, Kentucky. The Bank conducts business from its main office in Salem and through its branch offices located in Mitchell and Orleans, Indiana and loan production offices located in New Albany, Indiana and Louisville, Kentucky.

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,” “will,” “may,” “continue,” or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include the effect of the COVID-19 pandemic, including on our credit quality and business operations, as well as its impact on the real estate and economic environment, particularly in the market areas in which the Bank operates; increased competitive pressures; changes in the interest rate environment; general economic conditions or conditions within the securities markets; and legislative and regulatory changes affecting financial institutions, including regulatory compliance costs and capital requirements that could adversely affect the business in which the Company and the Bank are engaged; and other factors described in the Company’s latest Annual Report on Form 10-K and Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission that are available on our website at mid-southern.com and on the SEC's website at www.sec.gov.

The factors listed above could materially affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements.

Except as required by applicable law, the Company does not undertake – and specifically declines any obligation – to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. When considering forward-looking statements, you should keep in mind these risks and uncertainties. You should not place undue reliance on any forward-looking statement, which speaks only as of the date made.

Contact:
Alexander G. Babey, President and Chief Executive Officer
Robert W. DeRossett, Chief Financial Officer
Mid-Southern Bancorp, Inc.
812-883-2639

FAQ

What is the dividend amount announced by Mid-Southern Bancorp (MSVB)?

The announced dividend is $0.06 per share.

When will the dividend be paid to MSVB shareholders?

The dividend will be paid on November 25, 2022.

What factors affect future dividend declarations for MSVB?

Future dividends depend on financial condition, earnings, capital requirements, and regulatory constraints.

What is the previous dividend amount before the increase for MSVB?

The previous dividend was $0.04 per share.