Surrey Bancorp Declares Special Cash Dividend and Regular Quarterly Cash Dividend

Rhea-AI Summary

Surrey Bancorp (SRYB) announced a special cash dividend of $0.15 per share and a regular quarterly cash dividend of $0.105 per share, payable on January 10, 2023. Shareholders of record by December 16, 2022, will receive these dividends. CEO Ted Ashby highlighted that the dividend decisions reflect the Company's strong financial condition and commitment to shareholder value. Surrey Bancorp is the parent company of Surrey Bank & Trust, with multiple branch locations in North Carolina and Virginia.

Positive

• Declaration of a special cash dividend of $0.15 per share.
• Regular quarterly cash dividend of $0.105 per share.
• Dividends indicate strong financial health and commitment to shareholder value.

Negative

• None.

MOUNT AIRY, N.C., Nov. 17, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Surrey Bancorp (“the Company”, Pink Sheets: SRYB) announced today that it has declared a special cash dividend of 15 cents ($0.15) per share on the Company’s common stock. The Board also declared a regular quarterly cash dividend of 10.5 cents ($0.105) per share on the Company’s common stock. The cash dividends are payable on January 10, 2023, to shareholders of record as of the close of business on December 16, 2022. Ted Ashby, CEO of Surrey Bancorp, stated the dividends were 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 declared by Surrey Bancorp (SRYB)?

Surrey Bancorp declared a special cash dividend of $0.15 and a regular quarterly dividend of $0.105 per share.

When is the dividend payment date for Surrey Bancorp (SRYB)?

The dividends are payable on January 10, 2023.

Who are the shareholders eligible for the dividends of Surrey Bancorp (SRYB)?

Shareholders of record as of the close of business on December 16, 2022, are eligible for the dividends.

What factors influenced Surrey Bancorp's decision to declare dividends?

The dividends were based on the Company's strong financial results and a commitment to delivering shareholder value.