Cortland Bancorp Declares 3¢ Cash Dividend
CORTLAND, Ohio -- The directors of Cortland Bancorp, holding company of Cortland Banks, have declared a three-cent per share cash dividend payable Nov. 29 to shareholders of record Nov. 12, the company announced Wednesday.
In a prepared statement, the president and CEO of Cortland, James Gasior, said, “The continuing payment of a dividend reflects our continued confidence in the financial performance and direction of our company, supported by strong core earnings, increased loan production and capital ratios which exceed regulatory thresholds for well-capitalized financial institutions. We are pleased that the company’s financial strength allows us to return profits to our shareholders.”
Shares of Cortland (OTCQB: CLDB) closed Wednesday at $9.50, unchanged, on a volume of 135. Cortland Bancorp has 4.53 million shares outstanding.
Published by The Business Journal, Youngstown, Ohio.
CLICK HERE to subscribe to our free daily email headlines and to our twice-monthly print edition.