Calvin B. Taylor Bankshares, Inc. Announces Quarterly Cash Dividend of $0.33 per Share

Rhea-AI Summary

Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB) announced a quarterly cash dividend of $0.33 per share, payable on April 17, 2023, to stockholders of record by the close of business on March 31, 2023. The company's President, Raymond M. Thompson, highlighted strong first-quarter earnings driven by a balanced investment portfolio and ongoing loan demand, alongside an interest rate increase by the Federal Reserve. Although economic concerns persist, the Board remains committed to delivering stable returns to shareholders.

Positive

• Quarterly cash dividend of $0.33 per share confirms commitment to stable returns.
• Strong first-quarter earnings performance attributed to increased loan demand and interest rate hikes.

Negative

• Ongoing economic concerns may impact future performance.

BERLIN, MD / ACCESSWIRE / March 10, 2023 / 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. This dividend is payable on April 17, 2023 to stockholders of record as of the close of business on March 31, 2023. Raymond M. Thompson, President and Chief Executive Officer commented, "A well-balanced investment portfolio, continued loan demand, and another interest rate increase by the Federal Reserve is providing strong first quarter earnings performance. While economic concerns remain, the Board of Directors are committed to providing stockholders with a stable and consistent return on investment."

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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/743148/Calvin-B-Taylor-Bankshares-Inc-Announces-Quarterly-Cash-Dividend-of-033-per-Share

FAQ

What is the dividend amount for TYCB in 2023?

The dividend amount for TYCB is $0.33 per share.

When will the dividend for TYCB be paid?

The dividend will be paid on April 17, 2023.

What is the record date for the TYCB dividend?

The record date for the TYCB dividend is March 31, 2023.

How often does Calvin B. Taylor Bankshares pay dividends?

Calvin B. Taylor Bankshares typically pays dividends quarterly.

How does Calvin B. Taylor Bankshares ensure dividend sustainability?

Calvin B. Taylor Bankshares focuses on a well-balanced investment portfolio and strong loan demand to maintain dividend sustainability.