Wake Forest Bancshares, Inc. Announces Special Dividend

Rhea-AI Summary

Wake Forest Bancshares, Inc. (OTC: WAKE) announced a special cash dividend of $1.00 per share, payable on April 19, 2022, to shareholders of record as of April 5, 2022. This special dividend celebrates the Company's 100th anniversary as a community bank. With total assets of approximately $112 million and 1,070,046 shares of common stock outstanding, the Company remains committed to its local community and shareholders, having paid dividends for the past twenty-five years.

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• Declared a special cash dividend of $1.00 per share, rewarding shareholders.
• Celebration of the 100th anniversary signifies company stability and commitment to shareholders.
• Historically consistent dividend payments over the past 25 years indicate financial health.

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• None.

WAKE FOREST, N.C., March 22, 2022 (GLOBE NEWSWIRE) -- Wake Forest Bancshares, Inc., (OTC: WAKE) parent company of Wake Forest Federal, announced today that the Company’s Board of Directors declared a SPECIAL cash dividend of $1.00 per share payable on April 19, 2022 to stockholders of record as of April 05, 2022. The Company has paid quarterly dividends consecutively to its shareholders for the past twenty five years but its Board chose to pay this special dividend in celebration of its 100^th year as an independent community bank.

In making the announcement, Renee Shaw, President and Chief Executive Officer, reported that the Company is pleased to be able to reward our stockholders in this manner. It’s a big year for Wake Forest Federal as we celebrate our 100^th anniversary. Since first opening our doors in 1922, we’ve seen a lot of changes. Our products and services have evolved from account records on ledger cards to online and mobile banking. While many things have changed over the past 100 years, the one constant has been our commitment to our customers, our shareholders, and our community. We have and will continue to be a bank of local people making local decisions for the betterment of Wake Forest and its surrounding towns and neighborhoods. We love our community and are grateful that we have the support of shareholders and customers who still believe a local bank can provide a more intimate banking experience. The payment of this onetime special dividend of $1.00 per share this quarter is a way of saying “thank you” for believing in us and sharing in our success.

Wake Forest Bancshares, Inc., with total assets of approximately $112 million, has 1,070,046 shares of common stock outstanding. Based in Wake Forest, North Carolina since 1922, Wake Forest Bancshares, Inc. conducts its business through Wake Forest Federal from its office in Wake Forest, (Wake County), North Carolina. Deposits of the Association are insured up to the applicable limits by the FDIC.

Contact: Renee Shaw
Chief Executive Officer
919-556-5146 

FAQ

What is the dividend amount declared by Wake Forest Bancshares?

The dividend amount declared is $1.00 per share.

When will the special dividend be paid to shareholders of WAKE?

The special dividend will be paid on April 19, 2022.

What is the record date for the special dividend payment for WAKE?

The record date for the special dividend payment is April 5, 2022.

How long has Wake Forest Bancshares been paying dividends?

Wake Forest Bancshares has been paying dividends for the past twenty-five years.

What does the special dividend celebrate for WAKE?

The special dividend celebrates the 100th anniversary of Wake Forest Bancshares as a community bank.