Wayne Savings Bancshares, Inc. Declares Quarterly Dividend

Rhea-AI Summary

Wayne Savings Bancshares, Inc. (OTCQX:WAYN) has announced a cash dividend increase of $0.02 to $0.23 per share for the quarter ending March 31, 2022. This dividend will be paid on May 4, 2022 to stockholders of record as of April 20, 2022. As of December 31, 2021, the company reported total assets of $636.0 million, deposits of $540.5 million, and stockholders’ equity of $53.6 million, representing 8.4% of total assets.

Positive

• Dividend increase to $0.23 per share reflects strong financial performance.
• Total assets reported at $636.0 million indicate growth.

Negative

• Potential risks from interest rate changes affecting net interest margins.
• Economic conditions could impact demand for loans and deposits.

WOOSTER, Ohio, March 31, 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 increase of $0.02 to $0.23 per share of the Company’s common stock for the quarter ending March 31, 2022. The quarterly cash dividend will be paid on May 4, 2022 to stockholders of record as of April 20, 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 December 31, 2021, Wayne Savings Bancshares, Inc. reported total assets of $636.0 million, deposits of $540.5 million, and stockholders’ equity of $53.6 million, or 8.4% 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 new dividend amount for Wayne Savings Bancshares (WAYN)?

The new dividend amount is $0.23 per share.

When will the dividend be paid to stockholders for WAYN?

The dividend will be paid on May 4, 2022.

What are the record dates for the dividend payment of WAYN?

The record date for the dividend payment is April 20, 2022.

How have the total assets of Wayne Savings Bancshares changed?

As of December 31, 2021, total assets were reported at $636.0 million.