LEVITTOWN, PA / ACCESSWIRE / July 18, 2018 / William Penn Bancorp, Inc. (the "Company") (OTC PINK: WMPN), the mid-tier holding company for William Penn Bank, Levittown, Pennsylvania, (the "Bank") announced the Board of Directors at its meeting today declared a $0.32 per share annual cash dividend payable on August 10, 2018 to stockholders of record as of the close of business on August 1, 2018. The directors declared this dividend after reviewing the Company's results of operations and financial condition at and for the fiscal year ended June 30, 2018. "This is our seventh consecutive annual dividend and represents an increase of $0.01 per share from last year's annual dividend. We are able to pay this dividend as a result of the continued profitability of the Company. Our Board of Directors is strongly committed to enhancing shareholder value in our Company." remarked Terry L. Sager, President and Chief Executive Officer of William Penn Bancorp, Inc.
The Board currently anticipates paying cash dividends on an annual basis, subject to determination and declaration by the Board of Directors, which will consider a number of factors, including the financial condition and results of operations of the Company and the Bank, and regulatory restrictions on the payment of dividends by the Bank to the Company. However, no assurances can be given that such dividends will be paid or, if paid, such dividends will not be reduced or eliminated in future periods.
William Penn Bank conducts a traditional community bank operation, offering retail banking services, one- to four-family mortgage loans, multi-family, commercial and other real estate mortgage loans, construction loans, automobile loans, second mortgage loans and other consumer loans. William Penn Bank operates from its main office in Levittown, Pennsylvania and additional branch offices in Morrisville and Richboro, Pennsylvania, and Audubon, Mount Laurel, and Pine Hill, New Jersey. William Penn Bank maintains a website at www.willpenn.com and its deposits are insured up to the maximum legal amount by the Federal Deposit Insurance Corporation. The Company's common stock is traded on the OTC Pink under the symbol "WMPN."
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, expectations or predictions of future financial or business performance, conditions relating to the Company, or other effects of the merger of the Bank and Audubon Savings Bank on the Company. These forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, that are subject to significant risks and uncertainties, and are subject to change based on various factors (some of which are beyond the Company's control). The words "may," " could," "should," "would," "will," "believe," "anticipate," "estimate," " expect," "intend," "plan" and similar expressions are intended to identify forward-looking statements.
The Company does not undertake, and specifically disclaims, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances arising after the date hereof.
FOR FURTHER INFORMATION CONTACT:
Terry L. Sager
President and CEO
(215) 945-1200
SOURCE: William Penn Bancorp, Inc.