Touchstone Bankshares Announces Increase in Annual Cash Dividend

Rhea-AI Summary

Touchstone Bankshares, Inc. (OTC Pink: TSBA) has declared an annual cash dividend of $0.32 per share for its common and preferred shareholders. This dividend represents a 6.7% increase from the previous year, marking an increase of $0.02 per share. Shareholders of record by January 6, 2023 will receive their payment on January 20, 2023. The announcement reflects the company's solid performance in 2022 and its confidence in future business growth.

Positive

• Annual cash dividend of $0.32 per share announced, a 6.7% increase from last year.
• Demonstrates strong performance and confidence in future business growth.

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• None.

PRINCE GEORGE, Va., Dec. 15, 2022 /PRNewswire/ -- Touchstone Bankshares, Inc. (the "Company") (OTC Pink: TSBA), announced today the Board of Directors has declared an annual cash dividend of $0.32 per share for Touchstone Bankshares, Inc. common and preferred shareholders of record as of January 6, 2023, payable January 20, 2023.  This represents an increase $0.02 per share or 6.7% over the prior year.

James R. Black, the Company's President and CEO stated, "With the solid performance in 2022 and confidence in our business, we are pleased to announce this dividend increase for our loyal shareholders. We appreciate our shareholders support and investment in our growing community bank." 

About Touchstone Bankshares, Inc.

Touchstone Bankshares, Inc. is the bank holding company for Touchstone Bank. Most the Company's business activities are conducted through Touchstone Bank. Touchstone Bank is a full-service  community bank headquartered in Prince George, Virginia. The Bank has ten branches serving Southern and Central Virginia and two branches and two loan centers serving Northern North Carolina. Visit www.touchstone.bank for more information.

Forward-Looking Statements

In addition to historical information, this press release may contain certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. For this purpose, any statement that is not a statement of historical fact may be deemed to be a forward-looking statement. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, and actual results could differ materially from historical results or those anticipated by such statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to, the impacts of the ongoing COVID-19 pandemic; changes in interest rates and general economic conditions; the legislative/regulatory climate; monetary and fiscal policies of the U.S. Government; the quality or composition of the loan or investment portfolios; demand for loan products; deposit flows; competition; demand for financial services in the Company's market area; mergers, acquisitions and dispositions; implementation of new technologies and the ability to develop and maintain secure and reliable electronic systems; and tax and accounting rules, principles, policies and guidelines.

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SOURCE Touchstone Bankshares, Inc.

FAQ

What is the dividend amount for Touchstone Bankshares (OTC: TSBA)?

The dividend amount is $0.32 per share.

When is the dividend payment date for Touchstone Bankshares (OTC: TSBA)?

The dividend is payable on January 20, 2023.

What is the record date for the dividend for Touchstone Bankshares (OTC: TSBA)?

The record date is January 6, 2023.

How much has the dividend increased for Touchstone Bankshares (OTC: TSBA) compared to last year?

The dividend has increased by $0.02 per share, or 6.7%.