Raffaele M. Branca, President and Chief Executive Officer, reported, “Our dividend payout ratio is 23.7% on third quarter 2019 earnings. This is the second increase in our quarterly cash dividend rate this year.”
VSB Bancorp, Inc. is the one-bank holding company for Victory State Bank. Victory State Bank, a
The payment of dividends is at the discretion of the Board of Directors and nothing contained herein should be interpreted as a commitment to pay future dividends.
Statements contained in this press release, which are not historical facts, are forward -looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to materially differ from those currently anticipated. Those risks and uncertainties include, among other things, possible future changes in (i) the local, regional or national economy, (ii) market interest rates, (iii) customer preferences, (iv) competition or (v) federal or state laws.
Ralph M. Branca
President & CEO
SOURCE: VSB Bancorp
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