Lake Shore announced dividend

Lake Shore Bancorp, Inc., the holding company for Lake Shore Savings Bank, announced that the company’s Board of Directors approved a 10 cents per share cash dividend on its common stock, payable on March 15 to shareholders of record as of Feb. 27.

Based on the company’s closing stock price of $17 on Tuesday, the implied dividend yield for the company’s common stock is currently 2.35 percent.

Lake Shore Bancorp, Inc. (NASDAQ:LSBK) is the mid-tier holding company of Lake Shore Savings Bank, a federally chartered, community-oriented financial institution headquartered in Dunkirk. The bank has 11 full-service branch locations in Western New York, with five locations in Chautauqua and Erie counties.