ACNB Corporation Declares Fourth Quarter Cash Dividend
GETTYSBURG, Pa., Oct. 24, 2019 (GLOBE NEWSWIRE) — The Board of Directors of ACNB Corporation approved and declared the payment of the regular quarterly cash dividend. The cash dividend of $0.25 per share is payable on December 13, 2019, to shareholders of record on November 29, 2019. This per share amount reflects a nearly 9% increase over prior year same quarter and will result in aggregate dividend payments of approximately $1.8 million to ACNB Corporation shareholders in the fourth quarter of 2019. In comparison to a year ago, ACNB Corporation paid a $0.23 dividend per share in the fourth quarter of 2018.
With this fourth quarter dividend, the regular quarterly cash dividends paid to shareholders for the year of 2019 will total $0.98 per share. This per share amount will result in aggregate dividend payments of more than $6.9 million to ACNB Corporation shareholders for 2019. In comparison to a year ago, ACNB Corporation paid a total of $0.89 per share in 2018 and an aggregate of more than $6.2 million to shareholders during the same period.
“The Board of Directors is once again pleased to reward ACNB Corporation’s shareholders with a $0.25 dividend per share — resulting in an increased total dividend amount of $0.98 per share for the year of 2019 due to solid earnings performance,” said James P. Helt, ACNB Corporation President & Chief Executive Officer. “Our inorganic growth strategy is currently focused on the planned acquisition of Frederick County Bancorp, Inc., headquartered in Frederick, Maryland, and its wholly-owned subsidiary, Frederick County Bank. It is our belief that the addition of Frederick County Bank’s community banking network will further long-term shareholder value due to both geographic expansion and future financial benefits.” ACNB Corporation, headquartered in Gettysburg, PA, is the $1.7 billion financial holding company for the wholly-owned subsidiaries of ACNB Bank, Gettysburg, PA, and Russell Insurance Group, Inc., Westminster, MD. Originally founded in 1857, ACNB Bank serves its marketplace with banking and wealth management services, including trust and retail brokerage, via a network of 22 community banking offices, located in the four southcentral Pennsylvania counties of Adams, Cumberland, Franklin and York, as well as loan offices in Lancaster and York, PA, and Hunt Valley, MD. As a division of ACNB Bank, NWSB Bank serves its marketplace via a network of seven community banking offices located in Carroll County, MD. Russell Insurance Group, Inc., the Corporation’s insurance subsidiary, is a full-service agency with licenses in 44 states. The agency offers a broad range of property, casualty, health, life and disability insurance serving personal and commercial clients through office locations in Westminster, Germantown and Jarrettsville, MD. For more information regarding ACNB Corporation and its subsidiaries, please visit acnb.com.Contact:
Lynda L. Glass
Chief Governance Officer