Cortland Bancorp Declares Quarterly Cash Dividend of $.14 per share
21 Janeiro 2021 - 4:00PM
Cortland Bancorp (NASDAQ: CLDB), the holding
company for Cortland Savings and Banking Company, today announced
that its Board of Directors approved a quarterly cash dividend of
$0.14 per share. The dividend will be payable on March 1, 2021, to
shareholders of record as of the close of business on February 10,
2021.
“In response to our continued solid earnings
performance, we are pleased to continue the quarterly cash
dividend,” said James Gasior, President and Chief Executive
Officer. “Cash dividends, along with our share price appreciation,
provide an attractive return to our shareholders.” At the recent
stock price of $18.50 per share, the current dividend equates to a
yield of 3% on an annualized basis.
In addition, the Board declared a special $0.05
cash dividend, payable March 1. The special dividend rewards the
Company’s shareholders for the consistently profitable performance
by the Company and is afforded by the Company’s strong capital
position.
About Cortland BancorpCortland
Bancorp is a financial holding company headquartered in Cortland,
Ohio. Founded in 1892, the Company’s bank subsidiary, The Cortland
Savings and Banking Company conducts business through fourteen
full-service community banking offices located in the counties of
Trumbull, Mahoning, Portage, Summit, Ashtabula, and Cuyahoga in the
Northeast Ohio area and a financial service center in Fairlawn,
Ohio. For additional information about Cortland Bank visit
http://www.cortlandbank.com.
CONTACT:
James M. Gasior, President & CEO(330)
282-4111
Cortland Bancorp (NASDAQ:CLDB)
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