UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 8.01. Other Events.
On November 4, 2020, Shore Bancshares, Inc. announced that its Board of Directors declared a cash dividend of $0.12 per share, payable on November 30, 2020 to holders of record of shares of common stock as of November 14, 2020. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated herein by reference.
The information furnished under Item 8.01 and Item 9.01 of this Current Report on Form 8-K, including the exhibit, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of the Company under the Securities Act of 1933, as amended, except as shall be set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The exhibits that are filed or furnished with this report are listed in the Exhibit Index that immediately follows the signatures hereto, which list is incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SHORE BANCSHARES, INC. | ||
| Dated: November 4, 2020 | By: | /s/ Lloyd L. Beatty, Jr. |
| Lloyd L. Beatty, Jr. President and Chief Executive Officer | ||
2
EXHIBIT INDEX
| Exhibit | ||
| Number | Description | |
| 99.1 | Press Release, dated November 4, 2020 (filed herewith) |
3
Exhibit 99.1
Shore Bancshares, Inc. Reports Quarterly Dividend of $0.12 Per Share
Easton, Maryland (11/4/2020) - Shore Bancshares, Inc. (NASDAQ - SHBI) announced that the Board of Directors has declared a quarterly cash dividend on common stock in the amount of $0.12 per share, payable November 30, 2020 to stockholders of record on November 14, 2020.
“We are pleased to announce the continuation of our quarterly cash dividend of $0.12 per share.” said Lloyd L. “Scott” Beatty, Jr., President and Chief Executive Officer. “We reported positive earnings for the third quarter and remain in a very strong capital position. Political and pandemic related factors have continued to be a leading cause in the market volatility of our common stock. These factors our outside of the Company’s control, but we as a Company remain committed to solid earnings, healthy loan and deposit growth and effective use of our capital.”
Shore Bancshares Information
Shore Bancshares is a financial holding company headquartered in Easton, Maryland and is the largest independent bank holding company located on Maryland's Eastern Shore. It is the parent company of Shore United Bank. Shore Bancshares engages in trust and wealth management services through Wye Financial Partners, a division of Shore United Bank.
Additional information is available at www.shorebancshares.com.
Forward-Looking Statements
The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Shore Bancshares, Inc. with the Securities and Exchange Commission entitled “Risk Factors”.
For further information contact: Edward Allen, Executive Vice President, Chief Financial Officer,
410-763-7800
Cover |
Nov. 04, 2020 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Nov. 04, 2020 |
| Entity File Number | 000-22345 |
| Entity Registrant Name | SHORE BANCSHARES, INC. |
| Entity Central Index Key | 0001035092 |
| Entity Tax Identification Number | 52-1974638 |
| Entity Incorporation, State or Country Code | MD |
| Entity Address, Address Line One | 18 E. Dover St. |
| Entity Address, City or Town | Easton |
| Entity Address, State or Province | MD |
| Entity Address, Postal Zip Code | 21601 |
| City Area Code | 410 |
| Local Phone Number | 763-7800 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock |
| Trading Symbol | SHBI |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
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