Sussex Bancorp (SBBX) Declares $0.075 Quarterly Dividend; 1.3% Yield

Sussex Bancorp (NASDAQ: SBBX) declared a quarterly dividend of $0.075 per share, or $0.3 annualized.

The dividend will be payable on November 26, 2018, to stockholders of record on November 12, 2018, with an ex-dividend date of November 8, 2018.

The annual yield on the dividend is 1.3 percent.

“I am very excited to report strong double digit growth in all of our key business units as we build momentum going into 2019. This success has helped produce a 67% increase in net income, driven by 15% annualized growth in both loans and deposits, while our insurance agency grew its pretax profit by 65%,” said Anthony Labozzetta, President and Chief Executive Officer of SB One Bancorp and SB One Bank. Mr. Labozzetta also stated, “We continue to execute our strategic plan to build a better bank and we have a couple of strategic initiatives that we expect to complete within the next several months: first, our partnership with Enterprise, which we expect to close in December and fully integrate in February 2019; second, we are also very excited about the future opening of our newest regional banking and lending center in Weehawken, NJ (Hudson County NJ), which is targeted for a first quarter 2019 opening.”

Mr. Labozzetta went on to say, “Although the operating environment continues to present its fair share of headwinds, I’m very optimistic that there are equally as many opportunities for us to continue our disciplined growth and outperformance over the short and long run. We continue to maintain strong pipelines for loans and deposits, which will help us build our earnings into the foreseeable future.”

For a dividend history and other dividend-related data on Sussex Bancorp (SBBX) click here.

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