Press Releases

Chesapeake Financial Shares Increases Dividend

For additional information please contact
Jeffrey M. Szyperski, Chairman & CEO,
Chesapeake Financial Shares, Inc.
804-435-1181 or 1-800-434-1181

At their April 15, 2011 meeting, the Chesapeake Financial Shares (CFS) Board of Directors voted to increase the company’s dividend to $.10 per share.  Following the April 1 six-for-five stock split, this represents a 4.3% increase in dividend.  This follows a 4.5% dividend increase last quarter.  Chesapeake Financial Shares is the parent company of both Chesapeake Bank and Chesapeake Investment Group.

Jeffrey M. Szyperski, Chairman of the Board & CEO, reported earnings for the first quarter of 2011 of $1,525,803 representing a 31% increase over first quarter 2010 earnings.  The reported earnings per share were $.472 fully diluted as compared to $.359 in 2010.  Szyperski commented, “This is one of the strongest quarters in CFS’s history.” 

The wealth management subsidiary of CFS, Chesapeake Investment Group, experienced a strong growth rate to end the quarter with $312 million of assets under management.  J. Mark Monroe, President of Chesapeake Investment Group, stated, “With the current level of uncertainty in our economy, we strongly feel professional wealth management is critical at this juncture.”

For more information about Chesapeake Financial Shares stock (CPKF), please go to Chesapeake Bank’s website at www.chesbank.com.  Chesapeake Financial Shares remains a publicly traded company and is traded on the over-the-counter market.  Also, you are invited to become a fan of Chesapeake Bank on Facebook and follow Chesapeake on Twitter at www.twitter.com/chesbank.