Lyons Bancorp declares additional common stock dividend

Lyons Bancorp
Lyons Bancorp, the parent company of Lyons National Bank, has aggressively added to its loan reserve.

At an expressly-held meeting on July 22, 2021, The Board of Directors of Lyons Bancorp Inc. declared a special one-time $0.10 per share cash dividend to be paid to all its common stock shareholders who will be recorded on its books at the close of business on August 2, 2021. The dividend will be paid on Monday, August 16, 2021. This dividend is in addition to the Company’s regular quarterly dividend. 

“After raising our common stock dividend for 22 consecutive years, the Board chose to follow a prudent approach last year of preserving our capital by not raising the dividend due to the financial uncertainties brought about by the pandemic,” said  Robert Schick, Board Chairman and President of Lyons Bancorp, Inc. “A return to more normal financial times and the strong year-to-date earnings performance of The Lyons National Bank afforded the Board the opportunity to declare this special dividend.”

Based on the Company’s current trading price, combining the special $0.10 dividend with the current annualized dividend of $1.24 produces a dividend yield of 3.15%.

Lyons Bancorp Inc. is the financial holding company for The Lyons National Bank.  The Lyons National Bank is a community bank with offices in Lyons, Clyde, Macedon, Newark, Ontario and Wolcott in Wayne County; Jordan in Onondaga County; Canandaigua, Farmington  and Geneva in Ontario County; Penn Yan in Yates County; Waterloo in Seneca County; Perinton in Monroe County; and Auburn in Cayuga County. The Lyons National Bank has one subsidiary, Lyons Realty Associates Corp.