The payout had been 13 cents per common share since April 2019.Â
With this latest hike, Fulton continues to steadily lift its dividend closer to the 15-cent payout the stock provided before the Great Recession. That changed dramatically in early 2009, when Fulton slashed its dividend to 3 cents a share one of many companies to cut their dividends during the downturn.Â
Fulton began rebuilding the quarterly dividend in 2011. Itâs also paid special dividends for seven straight years. Lancaster-based Fulton Financial is the parent company of Fulton Bank, the countyâs largest bank.Â
What the WSFS-Bryn Mawr deal says about the potential for more bank M&A - Philadelphia Business Journal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Either overcoming COVID-19 or benefiting from it, many major companies in Lancaster County rebounded in the fourth quarter with higher net profits, according to their financial reports.Â
A survey of 12 publicly held companies based here or with sizable operations here found that nine posted better net profits in the October-through-December period, compared to the fourth quarter of 2019.Â
The fourth-quarter outcome flipped the script from the third quarter, when nine of 12 companies fared worse, often because they could not overcome the financial hit from the pandemic.Â
The surveyed companies, which employ more than 7,000 people locally, were selected by LNP | LancasterOnline to represent a cross-section of local economic sectors. Hereâs a summary of how the 12 performed, based on the quarterly financial reports they released over the past four weeks.Â
When local banker Curtis J. Myers looks at Philadelphia and Baltimore, he sees larger versions of Lancaster County â each is a collection of communities and neighborhoods that would benefit from community banking.
And, as chairman, president, CEO and chief operating officer of Fulton Bank, heâs been in a position to do something about it.
Lancaster-based Fulton opened three branches in Philadelphia in 2019, to be followed by another this year and another next year. Baltimore, which also has three Fulton branches, likewise is scheduled to get another this year and one more next year.
âWeâve found that there are many more similarities between those neighborhoods and communities (in the big cities) and the ones we currently serve, than there are differences,â Myers said.
Honed in Lancaster County, Fulton Bank takes its community focus to big cities lancasteronline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lancasteronline.com Daily Mail and Mail on Sunday newspapers.