Touchstone Bankshares Announces Increase in Annual Cash Dividend

Rhea-AI Summary

Touchstone Bankshares, Inc. (OTC Pink: TSBA) has declared an annual cash dividend of $0.30 per share, marking a 7.1% increase from the previous year. This dividend is for common and preferred shareholders of record as of January 7, 2021, and will be payable on January 21, 2021. CEO James R. Black expressed confidence in the company’s performance and business model, highlighting the dividend as a reward for loyal shareholders.

Positive

• Declared a cash dividend of $0.30 per share
• 7.1% increase from the previous year's dividend

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• None.

PRINCE GEORGE, Va., Dec. 17, 2021 /PRNewswire/ -- Touchstone Bankshares, Inc. (the "Company") (OTC Pink: TSBA), announced today the Board of Directors has declared an annual cash dividend of $0.30 per share for Touchstone Bankshares, Inc. common and preferred shareholders of record as of January 7, 2021, payable January 21, 2021.  This represents an increase $0.02 per share or 7.1% over the prior year.

James R. Black, the Company's President and CEO stated, "I am pleased with the solid performance this year and the opportunity to reward our loyal shareholder with this dividend. The $0.02 per share increase reflects the confidence in our business model and focus on franchise value."

About Touchstone Bankshares, Inc.
Touchstone Bankshares, Inc. is the bank holding company for Touchstone Bank. The majority of the Company's business activities are conducted through Touchstone Bank. Touchstone Bank is a full-service community bank headquartered in Prince George, Virginia. The Bank has ten branches serving Southern and Central Virginia and two branches and a loan center serving Northern North Carolina. Visit www.touchstone.bank for more information.

Forward-Looking Statements
In addition to historical information, this press release may contain certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. For this purpose, any statement that is not a statement of historical fact may be deemed to be a forward-looking statement. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, and actual results could differ materially from historical results or those anticipated by such statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to, the impacts of the ongoing COVID-19 pandemic; changes in interest rates and general economic conditions; the legislative/regulatory climate; monetary and fiscal policies of the U.S. Government; the quality or composition of the loan or investment portfolios; demand for loan products; deposit flows; competition; demand for financial services in the Company's market area; mergers, acquisitions and dispositions; implementation of new technologies and the ability to develop and maintain secure and reliable electronic systems; and tax and accounting rules, principles, policies and guidelines.

 

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SOURCE Touchstone Bankshares, Inc.

FAQ

What is the cash dividend amount declared by Touchstone Bankshares (TSBA)?

The cash dividend declared is $0.30 per share.

When is the payment date for the dividend announced by Touchstone Bankshares (TSBA)?

The dividend is payable on January 21, 2021.

What is the percentage increase in the dividend for Touchstone Bankshares (TSBA) compared to last year?

The dividend increased by 7.1% compared to the previous year.

Who is eligible to receive the dividend from Touchstone Bankshares (TSBA)?

Common and preferred shareholders of record as of January 7, 2021, are eligible.