Shore Bancshares, Inc. Reports Quarterly Dividend of $0.12 Per Share

Rhea-AI Summary

Shore Bancshares, Inc. (NASDAQ - SHBI) declared a quarterly cash dividend of $0.12 per share, payable on August 31, 2020, to stockholders of record by August 15, 2020. The company reported a solid second quarter, emphasizing its strong capital position despite ongoing challenges from the COVID-19 pandemic. CEO Lloyd L. “Scott” Beatty, Jr. noted their commitment to supporting customers during this economic volatility, highlighting the firm’s resilience and financial health.

Positive

• Declared a quarterly cash dividend of $0.12 per share.
• Reported a healthy second-quarter performance.
• Maintains a strong capital position.

Negative

• None.

EASTON, Md., Aug. 5, 2020 /PRNewswire/ -- Shore Bancshares, Inc. (NASDAQ - SHBI) announced that the Board of Directors has declared a quarterly cash dividend on common stock in the amount of $0.12 per share, payable August 31, 2020 to stockholders of record on August 15, 2020.

"We are pleased to announce the continuation of our quarterly cash dividend of $0.12 per share." said Lloyd L. "Scott" Beatty, Jr., President and Chief Executive Officer.  "We reported a healthy second quarter and remain very well capitalized, despite the COVID-19 pandemic and economic volatility. We remain focused on supporting our customers and communities as they manage their way through the pandemic."

Shore Bancshares Information

Shore Bancshares is a financial holding company headquartered in Easton, Maryland and is the largest independent bank holding company located on Maryland's Eastern Shore. It is the parent company of Shore United Bank. Shore Bancshares engages in trust and wealth management services through Wye Financial Partners, a division of Shore United Bank.

Additional information is available at www.shorebancshares.com.

Forward-Looking Statements
The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management's current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. These statements are evidenced by terms such as "anticipate," "estimate," "should," "expect," "believe," "intend," and similar expressions. Although these statements reflect management's good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Shore Bancshares, Inc. with the Securities and Exchange Commission entitled "Risk Factors".

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SOURCE Shore Bancshares, Inc.

FAQ

What is the dividend amount for Shore Bancshares (SHBI)?

The dividend amount declared is $0.12 per share.

When is the dividend payable for SHBI?

The dividend is payable on August 31, 2020.

What is the record date for the SHBI dividend?

The record date for the dividend is August 15, 2020.

How does the COVID-19 pandemic affect Shore Bancshares (SHBI)?

Shore Bancshares has emphasized its strong capital position and commitment to support customers despite the pandemic.