DUNMORE, Pa., Nov. 08, 2017 (GLOBE NEWSWIRE) -- The Board of Directors of Fidelity D & D Bancorp, Inc. (NASDAQ:FDBC), parent company of The Fidelity Deposit and Discount Bank, announce their declaration of the Company’s fourth quarter dividend of $0.24 per share plus a 2017 bonus dividend of $0.02 per share. The quarterly dividend of $0.24 per share increased 24%, or $0.05 per share, when compared to the previous years’ $0.19 per share, as the Company’s 2017 year-to-date net income outpaced prior years’ net income by 13%.
“The increase in dividend and the one-time bonus payment demonstrates the Board of Director’s and the Fidelity Banker’s commitment to sustainably increasing shareholder value,” stated Daniel J. Santaniello, President and Chief Executive Officer. “With today’s announcement, we are proud to increase our dividend for the fourth time in three years, while continuing to invest back into the Company in a way that will continue to drive profitable growth.”
The total cash dividend of $0.26 per share is payable December 8, 2017 to shareholders of record at the close of business on November 20, 2017.
On August 15, 2017, the Company declared a three-for-two stock split effected in the form of a 50% stock dividend. Per share information has been retroactively adjusted to reflect this stock split.
Fidelity D & D Bancorp, Inc. serves Lackawanna and Luzerne Counties through The Fidelity Deposit and Discount Bank’s ten community banking offices.
For more information visit our investor relations web site through www.bankatfidelity.com.
This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results and trends could differ materially from those set forth in such statements due to various factors. These factors include the possibility that increased demand or prices for the company’s financial services and products may not occur, changing economic, interest rate and competitive conditions, technological developments and other risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission.
Daniel J. Santaniello
President and Chief Executive Officer
Salvatore R. DeFrancesco, Jr.
Treasurer and Chief Financial Officer
Source:Fidelity Deposit & Discount Bank