EASTON, Md., Feb. 5, 2019 /PRNewswire/ -- Shore
Bancshares, Inc. (NASDAQ: SHBI) announced that the Board of
Directors has declared a quarterly common stock dividend in the
amount of $0.10 per share, payable
February 28, 2019 to stockholders of
record on February 15, 2019.
"We are pleased to announce the continuation of our quarterly
cash dividend and an increase to $0.10 per share,"
said Lloyd L. "Scott" Beatty, Jr., President and Chief Executive
Officer. "2018 was a good year for the Company and we remain
committed to our strategy for growth and enhancing shareholder
value. This dividend will result in a payout ratio for 2018 of
26.5% which excludes the sale of Avon Dixon on December 31, 2018."
Shore Bancshares Information
Shore Bancshares is a
financial holding company headquartered in Easton, Maryland and is the largest
independent bank holding company located on Maryland's Eastern Shore. It is the parent
company of Shore United Bank and an insurance premium finance
company, Mubell Finance, LLC. Shore Bancshares engages in trust and
wealth management services through Wye Financial & Trust, a
division of Shore United Bank.
Additional information is available at
www.shorebancshares.com.
Forward-Looking Statements
The statements contained
herein that are not historical facts are forward-looking statements
(as defined by the Private Securities Litigation Reform Act of
1995) based on management's current expectations and beliefs
concerning future developments and their potential effects on the
Company. Such statements involve inherent risks and uncertainties,
many of which are difficult to predict and are generally beyond the
control of the Company. There can be no assurance that future
developments affecting the Company will be the same as those
anticipated by management. These statements are evidenced by terms
such as "anticipate," "estimate," "should," "expect," "believe,"
"intend," and similar expressions. Although these statements
reflect management's good faith beliefs and projections, they are
not guarantees of future performance and they may not prove true.
These projections involve risk and uncertainties that could cause
actual results to differ materially from those addressed in the
forward-looking statements. For a discussion of these risks and
uncertainties, see the section of the periodic reports filed by
Shore Bancshares, Inc. with the Securities and Exchange Commission
entitled "Risk Factors".
The Company specifically disclaims any obligation to update any
factors or to publicly announce the result of revisions to any of
the forward-looking statements included herein to reflect future
events or developments.
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SOURCE Shore Bancshares, Inc.