Main Street Financial Services Corp. Declares Quarterly Dividend

Rhea-AI Summary

Main Street Financial Services Corp. (OTCQX:MSWV) has declared a quarterly cash dividend of $0.14 per share for Q2 2024, a 40% increase from the previous $0.10 per share. The dividend will be paid on August 16, 2024, to stockholders of record as of August 2, 2024. MSWV, a $1.4 billion holding company, recently graduated to the OTCQX Market, potentially improving stock exposure. Its primary subsidiary, Main Street Bank Corp., founded in 1899, operates 19 branch locations across Ohio and West Virginia, offering full-service banking, commercial lending, and mortgage services.

Positive

• 40% increase in quarterly dividend from $0.10 to $0.14 per share
• Graduation to OTCQX Market, potentially improving stock exposure
• Company's commitment to maximizing shareholder value

Negative

• None.

WOOSTER, Ohio, July 19, 2024 (GLOBE NEWSWIRE) -- Main Street Financial Services Corp. (OTCQX:MSWV), (the “Company”), the holding company parent of Main Street Bank Corp. (the “Bank”), has declared a cash dividend of $0.14 per share of the Company’s common stock for the quarter ending June 30^th, 2024; an increase of 40.0 percent compared to the $0.10 per share in the second quarter of 2024. The quarterly cash dividend will be paid on August 16, 2024, to stockholders of record as of August 2, 2024.

MSWV President & CEO, James VanSickle stated, “Main Street Financial Services Corp. is dedicated to maximizing shareholder value. The increase in our cash dividend is proof of our commitment to shareholders. Also, we have recently graduated to the OTCQX Market which will improve the exposure of MSWV common stock.”

About MSWV: Main Street Financial Services Corp. is a $1.4 billion holding company headquartered in Wooster, Ohio. Its primary subsidiary, Main Street Bank Corp. was founded in 1899 and provides full-service banking, commercial lending, and mortgage services across its branch infrastructure. Today, Main Street Bank Corp. operates 19 branch locations in Wooster, Ohio, Wheeling, West Virginia and other surrounding communities in Ohio and West Virginia.

Statements contained in this news release which are not historical facts may be forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. Factors which could result in material variations include, but are not limited to, changes in interest rates which could affect net interest margins and net interest income, competitive factors which could affect net interest income and noninterest income, changes in demand for loans, deposits and other financial services in the Company's market area; changes in asset quality, general economic conditions as well as other factors discussed in documents filed by the Company from time to time. The Company undertakes no obligation to update these forward-looking statements to reflect events or circumstances that occurred after the date on which such statements were made.

Contact:

Main Street Financial Services Corp.
James R. VanSickle II
President and Chief Executive Officer
330-264-5767

FAQ

What is the new quarterly dividend amount for Main Street Financial Services Corp. (MSWV)?

Main Street Financial Services Corp. (MSWV) has declared a quarterly cash dividend of $0.14 per share for the quarter ending June 30, 2024.

When will MSWV pay its Q2 2024 dividend?

MSWV will pay its Q2 2024 dividend on August 16, 2024, to stockholders of record as of August 2, 2024.

By what percentage did MSWV increase its quarterly dividend in Q2 2024?

MSWV increased its quarterly dividend by 40%, from $0.10 per share in the previous quarter to $0.14 per share for Q2 2024.

What is the total asset value of Main Street Financial Services Corp. (MSWV)?

Main Street Financial Services Corp. (MSWV) is a $1.4 billion holding company headquartered in Wooster, Ohio.