Chesapeake Financial Shares Reports Second Quarter Dividend

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KILMARNOCK, VA / ACCESSWIRE / April 22, 2020 / On behalf of Chesapeake Financial Shares, Inc. CPKF (parent company of both Chesapeake Bank and Chesapeake Wealth Management), Jeffrey M. Szyperski, Chairman of the Board & CEO, reported that at the company's April 17, 2020 Board of Directors meeting, the Board reaffirmed the quarterly dividend of $0.125 per share effective June 1, 2020, payable on or before June 15, 2020. Chesapeake has increased its dividend for 28 consecutive years. Currently, the stock has a 2.70% dividend yield.

Earlier this month Chesapeake announced earnings for the first quarter of 2020 of $3,367,909, a 13.2% increase from the first quarter of 2019. The reported earnings per share were $0.679 fully diluted compared to $0.597 fully diluted for the first quarter of 2019. Total assets ended the quarter at $951,390,935, roughly level with December 31, 2019 total assets of $958,306,037. Nonperforming assets were at 0.89% on March 31, 2020 compared to 0.88% on December 31, 2019 and significantly down from 1.84% on March 31, 2019.

For more information about Chesapeake Financial Shares stock (CPKF), or to receive daily e-mail alerts of our stock price, see www.chesapeakefinancialshares.com. The company is followed by Zacks Investment Research, and a copy of their report can also be found on this site or at www.zacks.com. Chesapeake Financial Shares is an over-the-counter, publicly traded stock. "Like" Chesapeake Bank on Facebook and follow us on LinkedIn, Twitter, and Instagram.

Contact: Jeffrey M. Szyperski - 804-435-4249; 1-800-434-1181

SOURCE: Chesapeake Financial Shares Inc.