CLDB Cortland Bancorp

Cortland Bancorp Declares Quarterly Cash Dividend of $0.11 Per Share; Declares Special Dividend of $0.05 Per Share

Cortland Bancorp Declares Quarterly Cash Dividend of $0.11 Per Share; Declares Special Dividend of $0.05 Per Share

CORTLAND, Ohio, July 25, 2018 (GLOBE NEWSWIRE) -- Cortland Bancorp (OTCQX:CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.11 per share.  The dividend will be payable on September 4, 2018, to shareholders of record as of the close of business on August 13, 2018.

In addition to the quarterly dividend, the Board declared a special dividend for $.05 per share, also payable September 4, 2018, to shareholders of record on August 13, 2018.  The bonus dividend is in response to the enhanced semiannual performance of the company in 2018.

“As our franchise continues to deliver strong performance, we are glad to be able to continue to pay a quarterly cash dividend and to reward our shareholders with the special dividend relative to exceptional results,” said James Gasior, President and Chief Executive Officer.  “Cash dividends along with our share price increase during the first half of 2018, provide an attractive return to our shareholders.” At the stock price of $23.46 per share at the close of the market on July 23, 2018, the current dividend equates to a yield of 1.9% on an annualized basis.

Cortland Bancorp recently reported earnings of $3.3 million, or $0.75 per share, for the second quarter of 2018, versus $1.2 million, or $0.26 per share, for the second quarter of 2017.  Year-to-date, earnings were $4.8 million or $1.10 per share, versus $2.2 million, or $0.49 per share for the first six months of 2017.

About Cortland Bancorp

Cortland Bancorp is a financial holding company headquartered in Cortland, Ohio.  Founded in 1892, the Company’s bank subsidiary, The Cortland Savings and Banking Company conducts business through thirteen full-service community banking offices located in the counties of Trumbull, Mahoning, Portage, Summit, and Ashtabula in Northeastern Ohio and a financial service center in Fairlawn, Ohio.  For additional information about Cortland Bank visit .

CONTACT: 

James M. Gasior, President & CEO

(330) 282-4111

EN
25/07/2018

Underlying

CLDBCortland Bancorp

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Cortland Bancorp

 PRESS RELEASE
Free
CLDB Cortland Bancor...

Cortland Bancorp Reminds Shareholders of Voting and Election Deadlines...

Cortland Bancorp Reminds Shareholders of Voting and Election Deadlines for Merger with Farmers National Banc Corp. Leading Independent Proxy Advisory Firms ISS and Glass Lewis Recommend Shareholder Vote in Favor of the Merger CORTLAND, Ohio, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB) (“Cortland”) would like to thank its shareholders for their support of the proposed merger with Farmers National Banc Corp. (“Farmers”) and reminds those shareholders that have not yet voted to vote without delay ”FOR” the merger and the other proposals in Cortland’s proxy statement f...

October 20, 2021 1 EN
 PRESS RELEASE
Free
CLDB Cortland Bancor...

Farmers National Banc Corp. and Cortland Bancorp Announce Election Dea...

Farmers National Banc Corp. and Cortland Bancorp Announce Election Deadline of October 25, 2021 CANFIELD, Ohio, Oct. 01, 2021 (GLOBE NEWSWIRE) -- Farmers National Banc Corp. (“Farmers”) (NASDAQ: FMNB), the holding company for The Farmers National Bank of Canfield, and Cortland Bancorp (“Cortland”) (NASDAQ: CLDB), the holding company for The Cortland Savings and Banking Company, today announced an election deadline of 5:00 p.m., Eastern Standard Time, October 25, 2021 (the “Election Deadline”) for shareholders of Cortland to elect the form of consideration they wish to receive for their sh...

October 1, 2021 1 EN
 PRESS RELEASE
Free
CLDB Cortland Bancor...

Cortland Bancorp Announces Second Quarter Financial Results

Cortland Bancorp Announces Second Quarter Financial Results Net income improves 3% for the quarter; up 44% through six months Announced merger with Farmers National Banc Corp expected to close in fourth quarter 2021 CORTLAND, Ohio, July 27, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB) announced its second quarter 2021 financial results. Net income for the three months ending June 30, 2021 was $2.0 million, or $0.48 per share, which was 3% higher than the income level of $1.9 million, or $0.47 per share, for the first quarter of 2020. First quarter 2021 net income was $2....

July 27, 2021 1 EN
 PRESS RELEASE
Free
CLDB Cortland Bancor...

Cortland Bancorp Declares Quarterly Cash Dividend of $0.15 Per Share

Cortland Bancorp Declares Quarterly Cash Dividend of $0.15 Per Share CORTLAND, Ohio, July 21, 2021 (GLOBE NEWSWIRE) -- Cortland Bancorp (NASDAQ: CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors approved a quarterly cash dividend of $0.15 per share. The dividend will be payable on September 1, 2021, to shareholders of record as of the close of business on August 9, 2021. “In response to our continued solid earnings performance, we are pleased to be able to continue the quarterly cash dividend,” said James Gasior, President an...

July 21, 2021 1 EN
 PRESS RELEASE
Free
CLDB Cortland Bancor...

Farmers National Banc Corp. and Cortland Bancorp Announce Farmers to A...

Farmers National Banc Corp. and Cortland Bancorp Announce Farmers to Acquire Cortland Bancorp CANFIELD, Ohio and CORTLAND, Ohio, June 23, 2021 (GLOBE NEWSWIRE) -- Farmers National Banc Corp. (“Farmers”) (NASDAQ: FMNB), the holding company for The Farmers National Bank of Canfield (“Farmers National Bank”), and Cortland Bancorp Inc.  (“Cortland”) (NASDAQ: CLDB), the holding company for The Cortland Savings and Banking Company, jointly announced today they have entered into an agreement and plan of merger (the “Agreement”). Pursuant to the Agreement, each shareholder of Cortland may elect ...

June 23, 2021 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch