Old Line Bancshares, Inc. Increases Quarterly Cash Dividend Twenty Percent
BOWIE, Md., March 04, 2019 (GLOBE NEWSWIRE) -- On February 27, 2019 the Board of Directors of Old Line Bancshares, Inc. (Nasdaq: OLBK), the parent company of Old Line Bank (the “Bank”), declared a first quarter dividend of $0.12, a $0.02 or 20.0% increase over the fourth quarter of $0.10 per share. The company will pay the dividend on March 29, 2019 to stockholders of record as of March 15, 2019. "We are proud to share our strong financial and operating performance with our shareholders through an increased dividend payment. We continue to generate growth while managing expenses resulting in improved earnings per share," said James W. Cornelsen, President and Chief Executive Officer of Old Line Bancshares.
Old Line Bancshares is the parent company of Old Line Bank, a Maryland chartered commercial bank headquartered in Bowie, Maryland, approximately 10 miles east of Andrews Air Force Base and 20 miles east of Washington, D.C. The Bank has 37 branches located in its primary market area of the suburban Maryland (Washington, D.C. suburbs, Southern Maryland and Baltimore suburbs) counties of Anne Arundel, Baltimore, Calvert, Carroll, Charles, Harford, Howard, Frederick, Montgomery, Prince George's and St. Mary's, and Baltimore City. It also targets customers throughout the greater Washington, D.C. and Baltimore metropolitan areas.
CONTACT: ELISE HUBBARD
CHIEF FINANCIAL OFFICER
(301) 430-2560
