News to Watch: Severn Bancorp (NASDAQ:SVBI) Reports a 25% increase in the quarterly cash dividend

Severn Bancorp (NASDAQ:SVBI) spotted trading -0.72% off 52-week high price. On the other end, the stock has been noted 95.63% away from the low price over the last 52-weeks. The stock changed 1.96% to recent value of $8.33. The stock transacted 4490 shares during most recent day however it has an average volume of 12.96K shares. The company has 12.81M of outstanding shares and 9.89M shares were floated in the market.

On Feb. 24, 2021, Severn Bancorp (NASDAQ:SVBI) the parent company of Severn Bank released that the Board of Directors declared a 25% increase in the quarterly cash dividend to its shareholders. The cash dividend of five cents ($0.05) per share of common stock will be payable on March 15, 2021 to shareholders of record at the close of business on March 8, 2021.

Alan J. Hyatt, President and Chief Executive Officer said: We are pleased to increase our dividend to our shareholders.  This has been a challenging time for the economy, and Severn Bank has met the challenges.  We continue to support our community through the second round of the PPP program for local businesses and we continue to offer a full range of banking services to our customers.  Our priority continues to be delivering shareholder value and positioning this company for continued success. Its earnings per share (EPS) expected to touch remained -3.80% for this year.

The price moved ahead of 6.19% from the mean of 20 days, 10.26% from mean of 50 days SMA and performed 26.81% from mean of 200 days price. Company’s performance for the week was 4.65%, 8.32% for month and YTD performance remained 16.67%.


Leave a Reply

Your email address will not be published. Required fields are marked *