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

Rhea-AI Summary

Shore Bancshares, Inc. (NASDAQ - SHBI) has declared a quarterly cash dividend of $0.12 per share, payable on November 30, 2020, to stockholders of record on November 14, 2020. The company reported positive earnings for Q3 and maintains a strong capital position, despite ongoing market volatility due to political and pandemic factors. President & CEO Scott Beatty expressed confidence in the company's solid earnings and growth in loans and deposits.

Positive

• Quarterly cash dividend of $0.12 per share announced.
• Positive earnings reported for Q3.
• Strong capital position maintained.

Negative

• Market volatility due to political and pandemic-related factors.

EASTON, Md., Nov. 4, 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 November 30, 2020 to stockholders of record on November 14, 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 positive earnings for the third quarter and remain in a very strong capital position. Political and pandemic related factors have continued to be a leading cause in the market volatility of our common stock. These factors our outside of the Company's control, but we as a Company remain committed to solid earnings, healthy loan and deposit growth and effective use of our capital."

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 announced by Shore Bancshares (SHBI)?

Shore Bancshares announced a quarterly dividend of $0.12 per share.

When will the dividend be paid to stockholders of Shore Bancshares (SHBI)?

The dividend will be payable on November 30, 2020.

What are the earnings results for Shore Bancshares (SHBI) in the third quarter?

Shore Bancshares reported positive earnings for the third quarter.

What is the record date for the dividend for Shore Bancshares (SHBI)?

The record date for the dividend is November 14, 2020.

How is Shore Bancshares (SHBI) managing market volatility?

Shore Bancshares is committed to solid earnings and effective capital use despite market volatility.