Severn Bancorp (SVBI) Raises Quarterly Dividend 33.3% to $0.04; 0.5% Yield
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Severn Bancorp, Inc. Announces Increased Dividend for Second Quarter
August 28, 2019 4:05 PM EDTANNAPOLIS, Md., Aug. 28, 2019 /PRNewswire/ --Â Severn Bancorp, Inc., (NASDAQ: SVBI) (the "Company"), parent company of Severn Bank today announced that the Board of Directors approved a cash dividend to its shareholders. The cash dividend of four cents ($0.04) per share of common stock, a 33% increase from the previous quarter payment of three cents ($0.03) per share of common stock, will be payable on September 17, 2019 to shareholders of record at the close of business on September 6, 2019.
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