Lyons Bancorp Raises Dividend
Canandaigua Clyde Geneva Jordan Lyons Macedon Newark Ontario Penn Yan Seneca County Wolcott Perinton Park Lyons (Main) Auburn (Downtown) Auburn (Grant Ave.), New York
The Board of Directors of Lyons Bancorp, Inc., the parent company of The Lyons National Bank, raised the Company’s quarterly common stock cash dividend to $0.30 from $0.27 per share. This dividend will be paid on October 15, 2018, to common stock shareholders of record on the Company’s books at the close of business on September 30, 2018. “Confident that our positive earnings momentum will continue, for the 21st consecutive year the Board raised the cash dividend on our common shares, and in doing so maintained its long-term commitment of paying 40% of our annualized earnings back to our shareholders,” said Robert A. Schick, Chairman and Chief Executive Officer. “Based on our current market price, the $1.20 annualized dividend produces a dividend yield in excess of 3.00%.”
The Lyons National Bank is a community bank located in the Finger Lakes region of Upstate New York with offices in Lyons, Clyde, Macedon, Newark, Ontario, and Wolcott in Wayne County; Jordan in Onondaga County; Geneva and Canandaigua in Ontario County; Penn Yan in Yates County; Waterloo in Seneca County; Perinton in Monroe County; and Auburn in Cayuga County. The Lyons National Bank has one subsidiary, Lyons Realty Associates Corp.
This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “estimate” or “continue,” or comparable terminology, are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within the control of the Company. The forward-looking statements included in this press release are made only as of the date of this press release. The Company has no intention, and does not assume any obligation, to update these forward-looking statements.