Burke & Herbert Bank Declares Quarterly Dividend
Alexandria, VA – Burke & Herbert Bank announced today that the Bank’s Board of Directors declared a dividend per share of $19.00 payable on September 4, 2012 to shareholders of record as of the close of business on August 15, 2012. The current dividend represents a $1.00 per share increase over the amount paid on June 1, 2012, and is an increase of $2.00 per share over the amount paid on March 1, 2012.
"Today’s dividend announcement reflects the continued strong financial performance of Burke & Herbert Bank," said E. Hunt Burke, the Bank’s Chairman & Chief Executive Officer. "We are pleased that we have been able to generate strong earnings and deliver value for our shareholders while at the same time making significant investments in the Bank to position ourselves for continued success."
The Bank posted net income of $9.0 million for the second quarter of 2012, on par with earnings the same quarter one year ago. Year-to-date earnings of $17.8 million are slightly ahead of the previous year (+1.4%).
Burke & Herbert Bank, established in 1852, is the oldest bank in the Commonwealth of Virginia and the oldest continuously operating bank in the Washington, D.C. area. The Bank offers a full range of personal and business banking products along with investment accounts and trust services. Burke & Herbert Bank is headquartered in Alexandria and operates 25 branches in Northern Virginia.
Trust products and services are not deposits, are not insured by the FDIC or any other government agency, are not guaranteed by the Bank and may lose value.