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8-K - DIVIDEND - OLD LINE BANCSHARES INC | dividend_8K.htm |
PRESS RELEASE
FOR IMMEDIATE RELEASE
February 23,
2017
|
OLD LINE BANCSHARES, INC.
CONTACT: Elise Hubbard
(301)
430-2560
|
Old Line Bancshares, Inc. Increases Quarterly Cash Dividend
Thirty-three Percent
BOWIE,
Md.-On February 23, 2017, the Board of Directors of Old Line
Bancshares, Inc. (Nasdaq: OLBK) declared a quarterly cash dividend
of $0.08 per common share, a $0.02 (33.3%) increase over the
previous quarterly cash dividend of $0.06 per share. The company
will pay the dividend on March 24, 2017 to stockholders of record
as of March 10, 2017. James W. Cornelsen, President and Chief
Executive Officer of Old Line Bancshares, stated: “We are
pleased that our strong operating results and capital position
allows us to reward our stockholders with an increased dividend to
go with our increasing stock price. Our 2016 results included
strong asset and earnings growth combined with disciplined cost
control resulting in improved earnings per share. We also
successfully demonstrated the ability to raise cost-effective
capital as needed and are positioned to raise additional capital
when appropriate.”
Old
Line Bancshares, Inc. is the parent company of Old Line Bank, a
Maryland chartered trust company headquartered in Bowie, Maryland,
approximately 10 miles east of Andrews Air Force Base and 20 miles
east of Washington, D.C. Old Line Bank has 21 banking locations
located in its primary market area of suburban Maryland
(Washington, D.C. suburbs, Southern Maryland and Baltimore suburbs)
counties of Anne Arundel, Baltimore, Calvert, Carroll, Charles,
Montgomery, Prince George's and St. Mary's. It also targets
customers throughout the greater Washington, D.C. and Baltimore
metropolitan areas.