Glen Burnie Bancorp (NASDAQ: GLBZ), parent company of The Bank of Glen Burnie, today announced that on September 9, 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 73 rd consecutive dividend.
The regular dividend is payable on October 5, 2010 to shareholders of record at the close of business on September 24, 2010. As of September 8, 2010, Glen Burnie Bancorp had 2,691,915 common shares outstanding with approximately 429 shareholders of record.
Mr. Livingston stated, “Given the uncertainty of the economic times we find ourselves in, one can only look towards consistency. Glen Burnie Bancorp has paid 73 consecutive quarterly dividends, demonstrating our ability to deliver consistency.”
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 39 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 $359 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.