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GLEN BURNIE, MD (September 11, 2015) – Glen Burnie Bancorp (NASDAQ: GLBZ), parent company of The Bank of Glen Burnie®, announced that its Board of Directors declared a regular dividend of seven cents ($0.07) per share of common stock at their meeting on September 10, 2015. This action marks the company’s 93rd consecutive dividend.
“The banking industry is continuing to face a low interest rate environment which has had a negative effect on net interest margins,” stated Michael Livingston, President and CEO of The Bank of Glen Burnie. “Despite the challenges, Glen Burnie Bancorp was able to pay a seven cent per share dividend this quarter. This is the 93rd consecutive quarterly dividend paid by Glen Burnie Bancorp.”
The regular dividend is payable on October 9, 2015 to shareholders of record at the close of business on September 28, 2015. As of September 2, 2015, Glen Burnie Bancorp had 2,771,174 common shares outstanding with approximately 385 shareholders of record.
Glen Burnie Bancorp, parent company to The Bank of Glen Burnie, currently maintains consolidated assets totaling more than $400 million. Founded in 1949, The Bank of Glen Burnie is a community bank with eight branch offices serving Anne Arundel County, MD (www.thebankofglenburnie.com).
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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.