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

Rhea-AI Summary

On May 18, 2022, Surrey Bancorp (SRYB) declared a quarterly cash dividend of $0.105 per share, payable on July 8, 2022. Shareholders of record as of June 17, 2022, will receive this payment. CEO Ted Ashby highlighted that this decision reflects strong financial performance and the company's commitment to shareholder value.

Positive

• Quarterly cash dividend of $0.105 per share declared.
• Dividend based on strong operational results.

Negative

• None.

MOUNT AIRY, N.C., May 18, 2022 (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 July 8, 2022, to shareholders of record as of the close of business on June 17, 2022. Ted Ashby, 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, and 2050 Rockford Street in Mount Airy and a limited service branch at 1280 West Pine 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 for SRYB and when is it payable?

Surrey Bancorp has declared a dividend of $0.105 per share, payable on July 8, 2022.

What is the record date for the SRYB dividend?

The record date for the dividend is June 17, 2022.

What factors influenced the dividend declaration by Surrey Bancorp?

The dividend was influenced by the Company's strong financial condition and current operating results.