Oak Ridge Financial Services, Inc. Announces First Quarter 2024 Results, 20% Increase in Quarterly Cash Dividend, and Stock Repurchase Program
OAK RIDGE FINCL SVCS INC (BKOR)
US:NASDAQ Investor Relations:
snl.com/irw/corporateprofile/4160431
Company Research
Source: GlobeNewswire
OAK RIDGE, N.C., April 30, 2024 (GLOBE NEWSWIRE) -- Oak Ridge Financial Services, Inc. (“Oak Ridge”; or the “Company”) (OTCPink: BKOR), the parent company of Bank of Oak Ridge (the “Bank”), announced unaudited financial results for the first three months of 2024, an increase of $0.02, or 20%, in its quarterly cash dividend to $0.12 per common share, and approval of a stock repurchase program. First Quarter 2024 Highlights Earnings per share of $0.50, compared to $0.54 for the prior quarter and $0.47 for the first quarter of 2023.Return on equity of 9.31%, compared to 10.44% for the prior quarter and 9.61% for the first quarter of 2023.Dividends declared per common share of $0.12, up 20% from the prior quarter and the first quarter of 2023.Tangible book value per common share of $21.56 as of period end, compared to $21.35 at the end of the prior quarter, and $19.95 at the end of the first quarter of 2023.Net interest margin of 3.79% for the current and prior quarter, and 3.88% for
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