Glen Burnie Bancorp (NASDAQ: GLBZ), parent company of The Bank of Glen Burnie, today announced that on March 11, 2010 its Board of Directors declared a regular dividend of ten cents ($0.10) per share of common stock. This action marks the company’s 71 th consecutive dividend.
The regular dividend is payable on April 7, 2010 to shareholders of record at the close of business on March 26, 2010. As of March 10, 2010, Glen Burnie Bancorp had 2,683,015 common shares outstanding with approximately 430 shareholders of record.
Glen Burnie Bancorp will host its Annual Meeting of Stockholders at 2:00 p.m. on Thursday, May 13, 2010 at Michael’s Eighth Avenue in Glen Burnie, Maryland.
Michael G. Livingston, President, CEO, stated, “We continue to offer our stockholders consistency in an uncertain regulatory and economic environment by paying our regular dividend at the same level as the previous four quarters of last year.”The Bank of Glen Burnie has earned the 5-Star Superior Rating from BAUER FINANCIAL Reports, Inc., the nation’s leading independent bank research firm, for 37 consecutive quarters. This distinction denotes the highest level of strength, safety and performance measured by Bauer. The 5-Star Superior Rating is based on factors such as capitalization, liquidity, loan delinquency rate and historical performance. Glen Burnie Bancorp, parent company to The Bank of Glen Burnie®, currently maintains consolidated assets totaling more than $350 million. Founded in 1949, The Bank of Glen Burnie ® is a locally-owned community bank with eight branch offices serving Anne Arundel County. ( www.thebankofglenburnie.com) Certain information contained in this news release, which does not relate to historical financial information, may be deemed to constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks and uncertainties, which could cause the company’s actual results in the future to differ materially from its historical results and those presently anticipated or projected. For a more complete discussion of these and other risk factors, please see the company’s reports filed with the Securities and Exchange Commission.