Surrey Bancorp Announces First Quarter Cash Dividend of $0.105 per Common Share

Rhea-AI Summary

Surrey Bancorp (Pink Sheets: SRYB) has announced a quarterly cash dividend of $0.105 per share, payable on April 9, 2021. Shareholders of record as of March 18, 2021 will receive the dividend. This decision reflects the Company's strong financial condition and commitment to enhancing shareholder value, according to CEO Ted Ashby.

Surrey Bancorp operates through several branches across North Carolina and Virginia, continuing to focus on delivering quality banking services.

Positive

• Quarterly cash dividend of $0.105 per share, enhancing shareholder value.
• Strong financial condition of the company supports ongoing dividend payments.

Negative

• None.

MOUNT AIRY, N.C., Feb. 17, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of Surrey Bancorp (“the Company”, Pink Sheets: SRYB) has declared a quarterly cash dividend of 10.5 cents ($0.105) per share on the Company’s common stock. The cash dividend is payable on April 9, 2021, to shareholders of record as of the close of business on March 18, 2021. Ted Ashby, President/CEO of Surrey Bancorp, stated the dividend was based on the Company’s current operating results, its strong financial condition and a commitment to delivering shareholder value.

Surrey Bancorp is the bank holding company for Surrey Bank & Trust (the “Bank”) and is located at 145 North Renfro Street, Mount Airy, North Carolina. The Bank operates full service branch offices at 145 North Renfro Street, 1280 West Pine Street and 2050 Rockford Street in Mount Airy. Full-service branch offices are also located at 653 South Key Street in Pilot Mountain, 393 CC Camp Road in Elkin and 1096 Main Street in North Wilkesboro, North Carolina and 940 Woodland Drive in Stuart, Virginia.

Surrey Bank & Trust can be found online at www.surreybank.com.

For additional information, please contact
Ted Ashby, CEO, or Mark Towe, CFO       
(336) 783-3900

FAQ

What is the dividend amount declared by Surrey Bancorp?

Surrey Bancorp has declared a quarterly cash dividend of $0.105 per share.

When is the dividend payable for Surrey Bancorp?

The dividend is payable on April 9, 2021.

What is the record date for the dividend payment for SRYB?

The record date for the dividend payment is March 18, 2021.

What factors influenced Surrey Bancorp's decision to declare a dividend?

The decision was based on the Company’s current operating results and its strong financial condition.