Middletown Valley Bank Increases Dividend by 50%
MIDDLETOWN, Md.–(PR NEWSWIRE)– Middletown Valley Bank, Inc. (OTC Pink Marketplace: MNVB), announced today a quarterly cash dividend on its common stock of $0.03 per share, an increase of $0.01 per share, declared on March 16, 2018. This cash dividend is payable on March 30, 2018 to shareholders of record on March 16, 2018.
“We are pleased to announce the fifty percent increase of our dividend to $0.03 per share which reflects our solid financial performance and the Board of Directors’ confidence in the strategic direction of the Bank,” said President and CEO Robert “B.J.” Goetz, Jr. “We are also thankful for the support of the communities that we serve and the commitment of the Bank’s employees in their providing the Absolutely Exceptional Experience to our customers which allows us to reward our loyal shareholders.”
Middletown Valley Bank is headquartered in Middletown, Maryland, and conducts full service commercial and retail banking services through six branches located in Frederick and Washington County, Maryland.
This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the use of forward- looking terminology such as “believes,” “expects,” “intends,” “may,” “will,” “should,” “anticipates” or similar terminology. Such statements, specifically regarding the Company’s intentions regarding transparency, growth and market expansion, are subject to risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, changes in interest rates, stock market liquidity, deposit flows, loan demand and real estate values, as well as changes in economic, competitive, governmental, regulatory, technological and other factors which may affect the Company specifically, its existing and target market areas or the banking industry in general. The realization or occurrence of these risks or uncertainties could cause actual results to differ materially from those addressed in the forward-looking statements.
Middletown Valley Bank, Inc.
Brian M. Ropp, Executive Vice President, Chief Financial Officer