Lyons Bancorp, Inc., the parent financial holding company of The Lyons National Bank, announced today that it is raising its quarterly common stock cash dividend to $0.40 from $0.35 per share. The annualized dividend will now be $1.60 per common share. The dividend will be paid on July 15, 2024, to common stock shareholders of record on the Company’s books at the close of business June 28, 2024.

“We have always strived to have our annualized dividend yield at a level that is representative of current interest rates,” said Robert A. Schick, Board Chairman. “In response to the Federal Reserve Bank’s aggressive stance on short-term interest rates, the Board paid a special one-time dividend of $0.07 per share in December 2023. This year’s $0.05 per quarter dividend increase will recur each quarter.”

Based on the last known trading price of the common stock of Lyons Bancorp, the annualized dividend yield is approximately 4.00%. The stock symbol for Lyons Bancorp is LYBC and the Company trades on the Over-the-Counter Quality Market (OTCQX).