Capital Bancorp Declares Quarterly Cash Dividend of $0.06 per Share
03 Maggio 2023 - 10:43PM
Capital Bancorp, Inc. (NASDAQ: CBNK) (“Company”), the holding
company of Capital Bank (“Bank”), announced today that its Board of
Directors has declared a cash dividend on its common stock of $0.06
per share. The dividend is payable on May 31, 2023 to shareholders
of record as of May 15, 2023.
Ed Barry, Chief Executive Officer stated,
“Management and the Board are committed to managing the Bank’s
capital in a manner that rewards our shareholders while maintaining
robust liquidity and regulatory capital. Our dividend, in
combination with our recently increased share repurchase plan,
provide us with multiple means to efficiently return capital. Our
healthy balance sheet and continued strong financial performance
position us to invest in our growth and maintain ample liquidity
while creating long-term shareholder value.”
ABOUT CAPITAL BANCORP, INC.
Capital Bancorp, Inc., Rockville, Maryland is a
registered bank holding company incorporated under the laws of
Maryland. The Company’s wholly-owned subsidiary, Capital Bank,
N.A., is the fourth largest bank headquartered in Maryland at March
31, 2023. Capital Bancorp has been providing financial services
since 1999 and now operates bank branches in five locations in the
greater Washington, D.C. and Baltimore, Maryland markets. Capital
Bancorp had assets of approximately $2.2 billion at March 31, 2023
and its common stock is traded in the NASDAQ Global Market under
the symbol “CBNK.” More information can be found at the Company's
website www.CapitalBankMD.com under its investor relations
page.
Forward-Looking Statements
The statements contained herein that are not
historical facts are forward-looking statements (as defined by the
Private Securities Litigation Reform Act of 1995) based on
management’s current expectations and beliefs concerning future
developments and their potential effects on the Company. Such
statements involve inherent risks and uncertainties, many of which
are difficult to predict and are generally beyond the control of
the Company. There can be no assurance that future developments
affecting the Company will be the same as those anticipated by
management. These statements are evidenced by terms such as
“anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,”
and similar expressions. Although these statements reflect
management’s good faith beliefs and projections, they are not
guarantees of future performance and they may not prove true. These
projections involve risk and uncertainties that could cause actual
results to differ materially from those addressed in the
forward-looking statements. While there is no assurance that any
list of risks and uncertainties or risk factors is complete, below
are certain factors which could cause actual results to differ
materially from those contained or implied in the forward-looking
statements: changes in general economic, political, or industry
conditions; geopolitical concerns, including the ongoing war in
Ukraine; the magnitude and duration of the COVID-19 pandemic and
related variants and mutations and their impact on the global
economy and financial market conditions and our business, results
of operations, and financial condition; uncertainty in U.S. fiscal
and monetary policy, including the interest rate policies of the
Board of Governors of the Federal Reserve System;
inflation/deflation, interest rate, market, and monetary
fluctuations; volatility and disruptions in global capital and
credit markets; the transition away from USD LIBOR and uncertainty
regarding potential alternative reference rates, including SOFR;
competitive pressures on product pricing and services; success,
impact, and timing of our business strategies, including market
acceptance of any new products or services; the impact of changes
in financial services policies, laws, and regulations, including
those concerning taxes, banking, securities, and insurance, and the
application thereof by regulatory bodies; cybersecurity threats and
the cost of defending against them, including the costs of
compliance with potential legislation to combat cybersecurity at a
state, national, or global level; and other factors that may affect
our future results.
These forward-looking statements are made as of the date of this
communication, and the Company does not intend, and assumes no
obligation, to update any forward-looking statement to reflect
events or circumstances after the date on which the statement is
made or to reflect the occurrence of unanticipated events or
circumstances, except as required by law.
FINANCIAL CONTACT: Connie Egan (301) 468-8848 x1225
MEDIA CONTACT: Ed Barry (240) 283-1912
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