Calvin B. Taylor Bankshares, Inc. Announces 10% Increase in Quarterly Cash Dividend to $0.33 per Share

Rhea-AI Summary

Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB) has announced a quarterly cash dividend increase to $0.33 per share, marking a 10% rise from the previous quarter. The dividend will be payable on October 14, 2022, to stockholders of record by the close of business on September 30, 2022. The company's President and CEO, Raymond M. Thompson, stated that this increase demonstrates the Board's commitment to enhancing shareholder returns despite prevailing economic uncertainties. The bank operates across the eastern coastal area of the Delmarva Peninsula.

Positive

• 10% increase in quarterly cash dividend to $0.33 per share.
• Demonstrates commitment to enhancing stockholder returns.
• Strong financial performance noted in 2022.

Negative

• None.

BERLIN, MD / ACCESSWIRE / September 20, 2022 / Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB), parent company of Calvin B. Taylor Bank, announced today that the Board of Directors declared a regular quarterly cash dividend of $0.33 per share which is an increase of $0.03 per share, or 10%, compared to the prior quarter. This dividend is payable on October 14, 2022 to stockholders of record as of the close of business on September 30, 2022. Raymond M. Thompson, President and Chief Executive Officer remarked, "Despite current economic uncertainty and financial market volatility, the company is experiencing strong financial performance in 2022. The dividend increase this quarter evidences the Board of Directors commitment to enhance stockholder return by providing a consistent and growing dividend."

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About Calvin B. Taylor Bank
Calvin B. Taylor Bank, the bank subsidiary of Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB), founded in 1890, offers a wide range of loan, deposit, and ancillary banking services through both physical and digital delivery channels. Calvin B. Taylor Bank has 12 banking locations within the eastern coastal area of the Delmarva Peninsula including Worcester County, Maryland, Sussex County, Delaware and Accomack County, Virginia.

Contact
M. Dean Lewis, Senior Vice President and Chief Financial Officer
410-641-1700, taylorbank.com

SOURCE: Calvin B. Taylor Bankshares, Inc.

View source version on accesswire.com:
https://www.accesswire.com/716522/Calvin-B-Taylor-Bankshares-Inc-Announces-10-Increase-in-Quarterly-Cash-Dividend-to-033-per-Share

FAQ

What is the new dividend amount for TYCB?

Calvin B. Taylor Bankshares, Inc. has increased its quarterly dividend to $0.33 per share.

When will the dividend for TYCB be paid?

The dividend will be payable on October 14, 2022.

What is the record date for the TYCB dividend?

Stockholders of record must hold shares by the close of business on September 30, 2022.

How much has the TYCB dividend increased?

The dividend has increased by $0.03 per share, or 10% compared to the prior quarter.

Is the dividend for TYCB sustainable?

The announcement reflects strong financial performance and a commitment to shareholder returns, suggesting a positive outlook for sustainability.