Glen Burnie Bancorp declares regular dividend

Published 12/07/2024, 16:18
Glen Burnie Bancorp declares regular dividend

GLEN BURNIE, Md. - Glen Burnie Bancorp (NASDAQ:GLBZ), the parent company of The Bank of Glen Burnie, announced on Thursday the declaration of a regular quarterly dividend. The company's Board of Directors has approved a ten-cent ($0.10) per share dividend, continuing its long-standing practice of returning value to shareholders. This latest dividend represents the 128th consecutive payout by the Maryland-based community bank.

The dividend is scheduled to be paid on August 5, 2024, to shareholders who are on record as of the close of business on July 22, 2024. Glen Burnie Bancorp, which was established in 1949, reported consolidated assets of $355.7 million as of June 30, 2024. The bank operates eight branches throughout Anne Arundel County, MD, providing a range of financial services to the local community.

The announcement of the dividend is a continuation of Glen Burnie Bancorp's tradition of providing consistent shareholder returns. Investors and analysts often view regular dividends as a sign of a company's financial health and stability, as well as its commitment to sharing profits with its owners.

This news release also contained forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995, cautioning that the company's future results could differ materially from historical performance and current expectations due to various risk factors. For a detailed discussion of these risks, the company refers to its filings with the Securities and Exchange Commission.

The information is based on a press release statement from Glen Burnie Bancorp.

In other recent news, Glen Burnie Bancorp, the parent company of The Bank of Glen Burnie, continues its streak of regular dividends with a recent declaration of a ten-cent ($0.10) per share payout. This marks the 127th consecutive payout by the company, emphasizing its consistent commitment to shareholder returns.

The dividend is set to be distributed to shareholders recorded as of a certain date in April. In addition to this, the company has reported consolidated assets of $369.9 million as of the end of March. The company's press release also contained a note of caution regarding forward-looking statements, pointing out that they are subject to risks and uncertainties that could lead to actual future results differing from current expectations.

InvestingPro Insights

Glen Burnie Bancorp (NASDAQ:GLBZ) continues to emphasize its dedication to shareholder returns with the announcement of its 128th consecutive dividend payout. This commitment is underscored by the fact that the company has maintained dividend payments for an impressive 28 years, showcasing its stability and reliability as an investment. Moreover, the dividend yield as of the most recent data stands at a substantial 9.88%, which is particularly attractive to income-focused investors.

While the company prides itself on consistent dividends, it's important to note that Glen Burnie Bancorp's stock price has experienced significant volatility. Over the last six months, the price total return has decreased by 36.77%, reflecting market uncertainties and perhaps internal challenges. Despite a notable dividend yield, the company's revenue has seen a downturn, with a decrease of 10.53% over the last twelve months as of Q1 2024.

From a valuation standpoint, Glen Burnie Bancorp's P/E ratio is currently 11.71, aligning with the adjusted P/E ratio for the last twelve months as of Q1 2024. This suggests that the stock is reasonably valued in the context of its earnings. Additionally, the price/book ratio stands at 0.65, which could indicate that the stock is undervalued relative to its assets, presenting a potential opportunity for value investors.

For those seeking more in-depth analysis, there are additional InvestingPro Tips available that provide further insight into Glen Burnie Bancorp's financial health, including its gross profit margins and stock performance over various time frames. Access these valuable tips at InvestingPro and consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.