Capital Bancorp boosts dividend by 25% to 10c per share

The Company also declared a cash dividend on its common stock of 10c per share. The dividend is payable on August 21 to shareholders of record on August 5. The dividend declared of 10c is 2c, or 25% higher than the prior quarter dividend reflecting the strength of earnings and capital position. The Company has increased its dividend each year since it first started paying dividends in 2021. “All of our businesses continued to make progress in the second quarter with sustained loan and deposit growth, increased credit card accounts and revenue growth, mortgage banking income growth, and continued credit stability,” said Ed Barry, Chief Executive Officer of the Company and the Bank. “These positive trends drove stable deposit costs, record net interest income, and increased net interest margin. We were also pleased to receive approval for our pending acquisition of Integrated Financial Holdings, Inc. from the Federal Reserve and we continue to work towards obtaining all approvals and closing requirements. IFHI’s expertise in niche C&I lending will further diversify our lending and fee generating capabilities while enhancing shareholder value.”