Monarch Financial Holdings Announces 12.5% Increase in Quarterly Cash Dividend
13 Maggio 2015 - 3:30PM
Monarch Financial Holdings, Inc. (Nasdaq:MNRK), the holding company
for Monarch Bank, announced a 12.5% increase in the quarterly
common stock cash dividend at its annual shareholders meeting held
on May 12, 2015. The Board of Directors declared a quarterly cash
dividend of $0.09 per common share, payable on June 12, 2015, to
shareholders of record on May 25, 2015. The amount and
declaration of future cash dividends is subject to Board of
Director's approval in addition to regulatory restrictions.
“One of our goals is to grow and enhance shareholder value, and
since we began paying cash dividends to our common stockholders
five years ago we have increased the payout each and every year,”
stated Brad E. Schwartz, Chief Executive Officer. “With our better
than budgeted first quarter, and our forecasts for the future, the
Board of Directors felt it was appropriate to increase the dividend
by 12.5% which equals a 2.8% dividend yield based on our current
stock price."
Monarch Financial Holdings, Inc. is the one-bank holding company
for Monarch Bank. Monarch Bank is a community bank with ten banking
offices in Chesapeake, Virginia Beach, Norfolk, and Williamsburg,
Virginia. OBX Bank, a division of Monarch Bank, operates offices in
Kitty Hawk and Nags Head, North Carolina. Monarch Mortgage
and our affiliated mortgage companies have over thirty-five offices
with locations in Virginia, North Carolina, Maryland, and South
Carolina. Our subsidiaries/divisions include Monarch Bank,
OBX Bank, Monarch Mortgage (secondary mortgage origination), OBX
Bank Mortgage (secondary mortgage origination), Coastal Home
Mortgage, LLC (secondary mortgage origination), Monarch Bank
Private Wealth (investment, trust, planning and private banking),
Monarch Investments (investment and insurance solutions), Real
Estate Security Agency, LLC (title agency) and Monarch Capital, LLC
(commercial mortgage brokerage). The shares of common stock of
Monarch Financial Holdings, Inc. are publicly traded on the Nasdaq
Capital Market under the symbol “MNRK”.
This press release may contain “forward-looking statements,”
within the meaning of federal securities laws that involve
significant risks and uncertainties. Statements herein are based on
certain assumptions and analyses by the Company and are factors it
believes are appropriate in the circumstances. Actual results could
differ materially from those contained in or implied by such
statements for a variety of reasons including, but not limited to:
changes in interest rates; changes in accounting principles,
policies, or guidelines; significant changes in the economic
scenario: significant changes in regulatory requirements; and
significant changes in securities markets. Consequently, all
forward-looking statements made herein are qualified by these
cautionary statements and the cautionary language in the Company’s
most recent Form 10-K and 10-Q reports and other documents filed
with the Securities and Exchange Commission. The Company does not
undertake to update forward-looking statements to reflect
circumstances or events that occur after the date the
forward-looking statements are made.
Contact: Brad E. Schwartz – (757) 389-5111, www.monarchbank.com
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