BERLIN, MD / ACCESSWIRE / March 27, 2018 / Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB), parent company of Calvin B. Taylor Bank, announced today that the Board of Directors has declared a Special Cash Dividend of $0.25 per share. This dividend is payable on May 1, 2018 to stockholders of record as of the close of business on April 2, 2018.
"We are pleased to pay this Special Cash Dividend as a way to thank our stockholders for their loyalty and support over the banks many decades of outstanding performance," remarked Raymond M. Thompson, President and CEO. "While the bank expects to see significant benefit from U.S. corporate income tax reform in future periods, we intend to be disciplined and strategic in the deployment of this benefit. Central to that effort will be the maximization of stockholder value, while at the same time, preserving and bolstering the bank’s strong financial condition as we continue to evolve and grow in the communities we serve," added Mr. Thompson.
About Calvin B. Taylor Banking Company
Calvin B. Taylor Banking Company, the bank subsidiary of Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB), founded in 1890, offers a wide range of loan, deposit, and ancillary banking services through both physical and digital delivery channels. The Company has 11 banking locations within the eastern coastal area of the Delmarva Peninsula including Worcester County, Maryland, Sussex County, Delaware, and Accomack County, Virginia. The Company also has a loan production office located in Onley, Virginia.
Contact
M. Dean Lewis, Vice President and Chief Financial Officer
410-641-1700
SOURCE: Calvin B. Taylor Banking Company
