Wayne Savings Bancshares, Inc. Declares Quarterly Dividend

Rhea-AI Summary

On September 29, 2022, Wayne Savings Bancshares, Inc. (OTCQX:WAYN) announced a quarterly cash dividend of $0.23 per share for the period ending September 30, 2022. This dividend will be paid on November 2, 2022, to shareholders of record by October 19, 2022. As of June 30, 2022, the company reported total assets of $654.2 million, deposits of $567.7 million, and stockholders’ equity of $42.3 million, representing 6.5% of total assets.

Positive

• Quarterly cash dividend of $0.23 per share announced for Q3 2022.
• Total assets reported at $654.2 million, indicating strong financial stability.
• Stockholders’ equity stands at $42.3 million, showing solid capital base.

Negative

• Potential risks from changes in interest rates affecting net interest margins.
• Market competition may impact net interest and noninterest income.

WOOSTER, Ohio, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Wayne Savings Bancshares, Inc. (OTCQX:WAYN), (the “Company”), the holding company parent of Wayne Savings Community Bank (the “Bank”), has declared a cash dividend of $0.23 per share of the Company’s common stock for the quarter ending September 30, 2022. The quarterly cash dividend will be paid on November 2, 2022, to stockholders of record as of October 19, 2022.

Established in 1899, Wayne Savings Community Bank, the wholly owned subsidiary of Wayne Savings Bancshares, Inc., has twelve full-service banking locations in the communities of Wooster, Ashland, Millersburg, Rittman, Lodi, North Canton, Creston, Fredericksburg and Washingtonville, Ohio. At June 30, 2022, Wayne Savings Bancshares, Inc. reported total assets of $654.2 million, deposits of $567.7 million, and stockholders’ equity of $42.3 million, or 6.5% of total assets.

Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. Factors which could result in material variations include, but are not limited to, changes in interest rates which could affect net interest margins and net interest income, competitive factors which could affect net interest income and noninterest income, changes in demand for loans, deposits and other financial services in the Company's market area; changes in asset quality, general economic conditions as well as other factors discussed in documents filed by the Company from time to time. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

Contact:

Wayne Savings Bancshares, Inc.
James R. VanSickle, II
President and Chief Executive Officer
330-264-5767

FAQ

What is the dividend amount for WAYN in Q3 2022?

The dividend amount declared by Wayne Savings Bancshares, Inc. for Q3 2022 is $0.23 per share.

When will WAYN's dividend be paid?

The dividend will be paid on November 2, 2022.

Who is eligible for the WAYN dividend?

Shareholders of record as of October 19, 2022, are eligible for the dividend payment.

What are Wayne Savings Bancshares' total assets?

As of June 30, 2022, Wayne Savings Bancshares reported total assets of $654.2 million.

What is the stockholder equity for WAYN?

The stockholder equity for Wayne Savings Bancshares is $42.3 million.