Wayne Savings Bancshares, Inc. Declares Quarterly Dividend

Rhea-AI Summary

Wayne Savings Bancshares, Inc. (OTCQX:WAYN) has announced a cash dividend of $0.23 per share for the quarter ending March 31, 2023. This dividend will be paid on May 3, 2023, to stockholders of record as of April 19, 2023. As of December 31, 2022, the Company reported total assets of $729.8 million, with deposits of $605.8 million and stockholders’ equity of $44.7 million, representing 6.1% of total assets. Established in 1899, Wayne Savings operates thirteen banking locations throughout Ohio, providing various financial services to its communities.

Positive

• Declared a quarterly cash dividend of $0.23 per share.
• Dividend payment scheduled for May 3, 2023, indicating confidence in cash flows.
• Total assets reported at $729.8 million as of December 31, 2022.

Negative

• Potential risks related to interest rate fluctuations affecting net interest margins.
• Economic conditions could impact demand for financial services.

WOOSTER, Ohio, March 30, 2023 (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 March 31, 2023. The quarterly cash dividend will be paid on May 3, 2023, to stockholders of record as of April 19, 2023.

Established in 1899, Wayne Savings Community Bank, the wholly owned subsidiary of Wayne Savings Bancshares, Inc., has thirteen full-service banking locations in the communities of Wooster, Ashland, Millersburg, Rittman, Lodi, North Canton, Creston, Fredericksburg, Washingtonville, and Dalton, Ohio. At December 31, 2022, Wayne Savings Bancshares, Inc. reported total assets of $729.8 million, deposits of $605.8 million, and stockholders’ equity of $44.7 million, or 6.1% 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 declared by Wayne Savings Bancshares for Q1 2023?

Wayne Savings Bancshares declared a cash dividend of $0.23 per share for the quarter ending March 31, 2023.

When will the dividend be paid to stockholders?

The dividend will be paid on May 3, 2023.

What are the stockholder's record dates for the dividend?

Stockholders of record as of April 19, 2023, will receive the dividend.

What is Wayne Savings Bancshares' total asset value?

As of December 31, 2022, Wayne Savings Bancshares reported total assets of $729.8 million.

What percentage of total assets is represented by stockholders' equity?

Stockholders' equity is reported at 6.1% of total assets.