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Chesapeake reports second-quarter dividend

At its April 17 meeting, the Board of Directors of Chesapeake Financial Shares, Inc., the parent company of both Chesapeake Bank and Chesapeake Wealth Management, reaffirmed its quarterly dividend of $0.125 per share effective June 1, payable on or before June 15, according to Jeffrey M. Szyperski, chairman of the board and CEO.

Chesapeake has increased its dividend for 28 consecutive years. Currently, the stock has a 2.7 percent dividend yield.

Earlier this month, Chesapeake announced earnings for the first quarter of 2020 of $3,367,909, a 13.2 percent 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 the Dec. 31, 2019 total assets of $958,306,037. Nonperforming assets were at 0.89 percent on March 31, 2020 compared to 0.88 percent on Dec. 31, 2019 and significantly down from 1.84 percent on March ...

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