OLNEY, Md., Aug. 30, 2007 (PRIME NEWSWIRE) -- Sandy Spring Bancorp, Inc., (Nasdaq:SASR) the parent company of Sandy Spring Bank, announced that its Board of Directors has declared a regular quarterly dividend of $0.23 per share for the 3rd quarter of 2007. Compared to the third quarter of 2006, this third quarter dividend for 2007 represents an increase of $0.01 per share. Sandy Spring's dividend payout ratio is 45.10% (3rd Quarter 2007 Declared Dividend/2nd Quarter 2007 Reported Earnings per Share) and its annualized dividend yield is 2.92% (annualized 3rd Quarter Declared Dividend/Closing Stock Price reported on August 29, 2007). The dividend is payable on September 20, 2007 to shareholders of record as of the close of business on September 10, 2007.
About Sandy Spring Bancorp/Sandy Spring Bank
With $3.1 billion in assets, Sandy Spring Bancorp is the holding company for Sandy Spring Bank and its principal subsidiaries, Sandy Spring Insurance Corporation, The Equipment Leasing Company and West Financial Services, Inc. Sandy Spring Bancorp is the second largest publicly traded banking company headquartered in Maryland. Sandy Spring is a community banking organization that focuses its lending and other services on businesses and consumers in the local market area. Independent and community-oriented, Sandy Spring Bank was founded in 1868 and offers a broad range of commercial banking, retail banking and trust services through 42 community offices in Anne Arundel, Carroll, Frederick, Howard, Montgomery, and Prince George's counties in Maryland, and in Fairfax and Loudoun counties in Virginia. Through its subsidiaries, Sandy Spring Bank also offers a comprehensive menu of leasing, insurance and investment management services. Visit www.sandyspringbank.com to locate an ATM near you or for more information about Sandy Spring Bank.
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