Fidelity D & D Bancorp, Inc. Announces Eight Consecutive Year Increase with 9% Increase of Fourth Quarter 2022 Dividend

DUNMORE, Pa., Oct. 19, 2022 (GLOBE NEWSWIRE) -- The Board of Directors of Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC), parent company of The Fidelity Deposit and Discount Bank, announce their declaration of the Company’s fourth quarter dividend of $0.36 per share, a 9% increase above the prior quarterly cash dividend of $0.33 per share.

“We are very proud to announce a dividend increase for the eighth consecutive year. This cash dividend increase demonstrates the Board of Director’s and the Fidelity Bankers’ commitment to sustainably increasing shareholder value, while continuing investment back into the Company in a meaningful way that drives profitable growth,” stated Daniel J. Santaniello, President and Chief Executive Officer.  “The improvement in revenue levels from growth along with the successful integration of both acquisitions lead to this prudent decision.”

The cash dividend of $0.36 per share is payable December 9, 2022 to shareholders of record at the close of business on November 18, 2022.

Fidelity D & D Bancorp, Inc. serves Lackawanna, Luzerne, Northampton and Lehigh Counties through The Fidelity Deposit and Discount Bank’s 21 full-service community banking offices, along with the Fidelity Bank Wealth Management Minersville Office in Schuylkill County. Fidelity Bank provides a digital and virtual experience via digital services and digital account opening through Online Banking and the Fidelity Mobile Banking app.

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This press release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.  Actual results and trends could differ materially from those set forth in such statements due to various factors.  These factors include the possibility that increased demand or prices for the company’s financial services and products may not occur, changing economic, interest rate and competitive conditions, technological developments and other risks and uncertainties, including those detailed in the company’s filings with the Securities and Exchange Commission.

Daniel J. Santaniello
President and Chief Executive Officer
Salvatore R. DeFrancesco, Jr.
Treasurer and Chief Financial Officer