Chesapeake Financial Shares CEO Jeff Szyperski Reports Strong Q3 2024 Earnings and Dividend Increase

Proactive - Interviews for investors

Chesapeake Financial Shares CEO Jeff Szyperski joined Steve Darling from Proactive to shared the company's financial results for the third quarter of 2024. The company reporting earnings of $2,600,159, marking a 5% increase over the same period in 2023. The company's earnings per share reached $0.550 fully diluted, up from $0.526 in Q3 2023. Total assets as of the end of the quarter stood at $1.59 billion, reflecting an 8% increase from year-end 2023. Nonperforming assets were reported at 0.421%, slightly up from 0.376% in the previous year. Szyperski highlighted the positive impact of stabilized and slightly declining interest rates, which have helped the company maintain its net interest margin. Chesapeake's lending activity continues to outperform industry peers, with an 8.1% annualized increase year-to-date in 2024. Additionally, Chesapeake Payment Systems and Flexent, both subsidiaries of the company, are experiencing strong performance this year. In further positive news, Chesapeake announced an increase in its quarterly dividend by $0.05 to $0.16 per share. Notably, the company has raised its dividend for 32 consecutive years, reflecting its commitment to delivering value to shareholders. #proactiveinvestors #chesapeakefinancialsharesinc #otcqx #cpkf #JeffSzyperski #Q3Earnings #DividendGrowth #LoanGrowth #ChesapeakePaymentSystems #Flexent #CommunityBanks #FinancialServices #ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews