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LAKE SHORE BANCORP, INC. FILES (8-K) Disclosing Other Events

July 25, 2014

Item 8.01Other Events.

The Company's Board of Directors on July 23, 2014 declared a quarterly cash dividend of $0.07 per share on its outstanding common stock. The dividend is payable on August 19, 2014 to shareholders of record as of August 6, 2014.

Lake Shore, MHC (the "MHC"), which holds 3,636,875, or 61.5%, of the Company's total outstanding stock, has elected to waive receipt of the dividend on its shares.

As the Company has previously disclosed, the MHC received the approval of its members (depositors of Lake Shore Savings Bank) and the non-objection of the Federal Reserve Bank of Philadelphia to waive the MHC's receipt of cash dividends on its common stock up to $0.28 per share during the 12 month period ending February 5, 2015.


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Source: Edgar Glimpses

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