Lake Shore Bancorp announced a $0.18 cash dividend per share, payable February 14, 2025, following Federal Reserve approval.
Quiver AI Summary
Lake Shore Bancorp, Inc. announced a cash dividend of $0.18 per share on its common stock, set to be paid on February 14, 2025, to shareholders recorded by February 10, 2025. The dividend declaration received prior written approval from the Federal Reserve Bank of Philadelphia on January 9, 2025. Lake Shore Bancorp, the parent company of Lake Shore Savings Bank, operates primarily in Western New York and provides a range of retail and commercial banking services. The press release also includes cautionary notes about forward-looking statements related to the company’s operations and the various risks that may impact its future performance.
Potential Positives
- The Board of Directors declared a cash dividend of $0.18 per share, which indicates financial stability and commitment to returning value to stockholders.
- The dividend declaration received formal approval from the Federal Reserve Bank of Philadelphia, signaling regulatory compliance and oversight support.
- The payment date for the dividend is set for February 14, 2025, creating a positive outlook for stockholder engagement and satisfaction during that period.
Potential Negatives
- The announcement of a cash dividend may signal to investors that the company has limited growth opportunities, as it suggests the company is returning cash to shareholders rather than reinvesting it into the business.
- The need for written approval from the Federal Reserve Bank of Philadelphia to pay a dividend could indicate regulatory scrutiny or potential weaknesses in the company's financial stability.
- The extensive list of risks and uncertainties mentioned in the forward-looking statements may raise concerns about the company's future performance and operational resilience.
FAQ
What is the cash dividend declared by Lake Shore Bancorp?
The Board of Directors declared a cash dividend of $0.18 per share on January 27, 2025.
When will the dividend be paid to stockholders?
The dividend is expected to be paid on February 14, 2025, to stockholders of record as of February 10, 2025.
Who approved the cash dividend payment?
The cash dividend payment was approved by the Federal Reserve Bank of Philadelphia on January 9, 2025.
Where is Lake Shore Savings Bank headquartered?
Lake Shore Savings Bank is headquartered in Dunkirk, New York, and has ten branch locations in Western New York.
What type of institution is Lake Shore Bancorp?
Lake Shore Bancorp is a mid-tier holding company for Lake Shore Savings Bank, a federally chartered, community-oriented financial institution.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LSBK Insider Trading Activity
$LSBK insiders have traded $LSBK stock on the open market 4 times in the past 6 months. Of those trades, 4 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $LSBK stock by insiders over the last 6 months:
- KEVIN M. SANVIDGE has made 2 purchases buying 4,379 shares for an estimated $59,381 and 0 sales.
- ANN M SEGARRA purchased 1,700 shares for an estimated $21,692
- TAYLOR M GILDEN (Chief Financial Officer) purchased 400 shares for an estimated $5,104
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$LSBK Hedge Fund Activity
We have seen 7 institutional investors add shares of $LSBK stock to their portfolio, and 7 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- STILWELL VALUE LLC added 21,893 shares (+21.9%) to their portfolio in Q3 2024, for an estimated $295,336
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 17,241 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $232,581
- BRIDGEWAY CAPITAL MANAGEMENT, LLC removed 13,056 shares (-45.3%) from their portfolio in Q3 2024, for an estimated $176,125
- GEODE CAPITAL MANAGEMENT, LLC added 6,978 shares (+66.3%) to their portfolio in Q3 2024, for an estimated $94,133
- VANGUARD GROUP INC removed 5,659 shares (-10.5%) from their portfolio in Q3 2024, for an estimated $76,339
- UBS GROUP AG removed 4,752 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $64,104
- MORGAN STANLEY added 900 shares (+8.2%) to their portfolio in Q3 2024, for an estimated $12,141
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DUNKIRK, N.Y., Jan. 27, 2025 (GLOBE NEWSWIRE) -- Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), the holding company for Lake Shore Savings Bank (the “Bank”), announced today that the Board of Directors declared a cash dividend of $0.18 per share on its outstanding common stock on January 27, 2025. The dividend is expected to be paid on February 14, 2025 to stockholders of record as of February 10, 2025. The Company received the written approval from the Federal Reserve Bank of Philadelphia (the “Reserve Bank”) on January 9, 2025 to pay a cash dividend of $0.18 per share to its stockholders.
About Lake Shore
Lake Shore Bancorp, Inc. (NASDAQ Global Market: LSBK) is the mid-tier holding company of Lake Shore Savings Bank, a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has ten full-service branch locations in Western New York, including four in Chautauqua County and six in Erie County. The Bank offers a broad range of retail and commercial lending and deposit services. The Company’s common stock is traded on the NASDAQ Global Market as “LSBK”. Additional information about the Company is available at
www.lakeshoresavings.com
.
Safe-Harbor
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current expectations, estimates and projections about the Company’s and the Bank’s industry, and management’s beliefs and assumptions. Words such as anticipates, expects, intends, plans, believes, estimates and variations of such words and expressions are intended to identify forward-looking statements. Such statements reflect management’s current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve and are subject to significant risks, contingencies, and uncertainties, many of which are difficult to predict and are generally beyond our control including, but not limited to, compliance with the Written Agreement with the Federal Reserve Bank of Philadelphia, data loss or other security breaches, including a breach of our operational or security systems, policies or procedures, including cyber-attacks on us or on our third party vendors or service providers, economic conditions, the effect of changes in monetary and fiscal policy, inflation, unanticipated changes in our liquidity position, climate change, geopolitical conflicts, public health issues, increased unemployment, deterioration in the credit quality of the loan portfolio and/or the value of the collateral securing repayment of loans, reduction in the value of investment securities, the cost and ability to attract and retain key employees, regulatory or legal developments, tax policy changes, dividend policy changes, and our ability to implement and execute our business plan and strategy and expand our operations. These factors should be considered in evaluating forward looking statements and undue reliance should not be placed on such statements, as our financial performance could differ materially due to various risks or uncertainties. We do not undertake to publicly update or revise our forward-looking statements if future changes make it clear that any projected results expressed or implied therein will not be realized.
Source: Lake Shore Bancorp, Inc.
Category: Financial
Investor Relations/Media Contact
Kim C. Liddell
President, CEO, and Director
Lake Shore Bancorp, Inc.
31 East Fourth Street
Dunkirk, New York 14048
(716) 366-4070 ext. 1012