Lyons Bancorp Increases Quarterly Dividend
The Board of Directors of Lyons Bancorp, Inc., the holding company for The Lyons National Bank, approved a 12% increase in the Company’s common stock dividend. After adjusting for the Company’s recently concluded 3-for-2 stock split, the quarterly dividend was increased from $.267 to $.30 per common share or $1.20 annualized. The new dividend will be paid on April 13, 2012 to all shareholders of record as of the close of business March 30, 2012. Based on the trading price of the company’s common stock at the close of business on March 7, 2012 of $32.00 per share, the annualized dividend yield is 3.75%.
Robert A. Schick, President and Chief Executive Officer reiterated, “The Board’s confidence in the Bank’s ability to continuously grow our franchise profitability has afforded them this opportunity to again reward our shareholders for their long-standing trust and confidence. This is the 28th time in the past 11 years that the Board has approved an increase in our quarterly cash dividend.”
Lyons Bancorp, Inc. has total assets of $575 million and is an independent, community bank with eleven branch offices located throughout Wayne, Onondaga, Ontario, Seneca and Yates Counties. LNB has a long-standing tradition of excellence, dating back to 1852. As its mission, LNB safely and profitably serves all of its customers and communities with unmatched professional service. LNB offers an extensive variety of products within the personal and business banking realms, including direct deposit, online banking, Cash Manager, Remote Deposit Capture and much more. LNB also provides financial services, including investments and insurance. For a complete listing of products and services, as well as branch locations visit BankwithLNB.com.