Wayne Savings Bancshares (WAYN) Declares $0.09 Quarterly Dividend; Approves 2.5% Stock Buyback

September 22, 2016 4:18 PM EDT

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Wayne Savings Bancshares (NASDAQ: WAYN) declared a quarterly dividend of $0.09 per share, or $0.36 annualized.

The dividend will be payable on October 26, 2016, to stockholders of record on October 12, 2016, with an ex-dividend date of October 7, 2016.

The annual yield on the dividend is 2.7 percent.

Wayne Savings Bancshares also announced today that its Board of Directors has adopted a new stock repurchase program. Under the new stock repurchase program, the Company is authorized to repurchase up to 69,546 shares, or 2.5% of its issued and outstanding shares of common stock. The new stock repurchase program may be limited or terminated at any time without prior notice.

Under the new stock repurchase program, the Company may acquire shares of its common stock in the open market or in any private transaction, from time-to-time and in accordance with applicable laws, rules and regulations. The timing and extent to which the Company repurchases its shares will depend upon management’s assessment of market conditions and other corporate considerations as may be considered in the Company’s sole discretion.

At June 30, 2016, Wayne Savings Bancshares, Inc. reported total assets of $449.2 million, deposits of $376.9 million, and stockholders’ equity of $41.3 million, or 9.18% of total assets.

For a dividend history and other dividend-related data on Wayne Savings Bancshares (WAYN) click here.

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