Lake Shore Bancorp, Inc. Declares Cash Dividend
Lake Shore Bancorp, Inc. (NASDAQ: LSBK), the parent company of Lake Shore Savings Bank, proudly announces a cash dividend of $0.18 per share on its outstanding common stock. This decision was made by the Board of Directors on October 23, 2024, and the dividend is set to be paid to eligible stockholders on November 8, 2024.
Key Details of the Dividend Declaration
Stockholders of record as of November 4, 2024, will receive this cash dividend. The company's strength in the financial sector has enabled it to maintain an attractive dividend policy, benefiting its shareholders significantly.
About Lake Shore Bancorp, Inc.
Lake Shore Bancorp, Inc. operates as the mid-tier holding company for Lake Shore Savings Bank, a chartered community bank focused on providing financial services to the local community. The institution is based in Dunkirk, New York, and manages multiple branches across Western New York, with a comprehensive range of retail and commercial lending options.
Branch Locations and Services Offered
The Bank operates ten full-service branches that cater to the needs of both individual and business customers. These branches are strategically distributed across Chautauqua and Erie Counties, promoting accessibility to banking services, personal loans, mortgage offerings, and various deposit account options.
Commitment to the Community
Lake Shore Savings Bank aims to foster strong community ties, engaging in various local initiatives and providing support for economic development. This commitment enhances the bank's role not just as a financial service provider, but as a vital part of the community's growth and stability.
Investor Relations
For more information, interested parties can reach out to the bank’s investor relations or media contact department. Taylor M. Gilden, Chief Financial Officer and Treasurer of Lake Shore Bancorp, is available at their headquarters located at 31 East Fourth Street, Dunkirk, New York 14048. For inquiries, please call (716) 366-4070 ext. 1065.
Recent Corporate Developments
Recently, the company has received the necessary approval from the Federal Reserve Bank of Philadelphia, allowing them to maintain their robust capital position and continue rewarding their shareholders through dividends. This approval highlights the bank's prudent management and regulatory compliance, ensuring the strength and sustainability of its operations.
Frequently Asked Questions
What is the amount of the declared dividend by Lake Shore Bancorp, Inc.?
The declared dividend is $0.18 per share for its outstanding common stock.
When is the dividend expected to be paid?
The dividend payment is scheduled for November 8, 2024, to stockholders recorded as of November 4, 2024.
Who should I contact for more information about investor relations?
For inquiries related to investor relations, you may contact Taylor M. Gilden at Lake Shore Bancorp, Inc.
Where are Lake Shore Savings Bank's branches located?
Lake Shore Savings Bank operates ten full-service branches across Chautauqua and Erie Counties in Western New York.
What services does Lake Shore Savings Bank offer?
The bank provides a wide range of retail and commercial lending products, as well as various deposit services tailored to individual and business clients.
