4 unchanged sentences
Shareholders received quarterly cash dividends on shares of common stock totaling $9.5 million in 2022 and $6.6 million in 2021.
−Removed: Dividends increased from 2020 due to the issuance of the Company’s common stock in relation to the acquisition of Severn in the fourth quarter of 2021.
+Added: Dividends remained at $0.12 for the entire year of 2022.
As a general matter, the payment of dividends is at the discretion of the Company’s Board of Directors, based on such factors as operating results, financial condition, capital adequacy, regulatory requirements, and stockholder return.
−Removed: The Company anticipates continuing a regular quarterly cash dividend.
+Added: The Company anticipates continuing a regular quarterly cash dividend, although future dividend increases must be approved by TCFC prior to the planned merger in accordance with agreement and plan of merger signed December 14, 2022.
However, we have no obligation to pay dividends and we may change our dividend policy at any time without notice to shareholders.
29 unchanged sentences
There were no unregistered sales of the Company’s stock during the fourth quarter of 2022.
−Removed: The Company’s stock repurchase program that was approved in November 24, 2020, expired on December 31, 2021.
+Added: The Company announced a new stock repurchase program that was approved on July 6, 2022.
+Added: Under the new stock repurchase program, the Company is authorized to repurchase up to $5.0 million of the Company’s Common Stock, representing approximately 1.4% of its issued and outstanding Common Stock based on the closing price of the Company’s Common Stock on July 5, 2022.
+Added: The program may be limited or terminated at any time without prior notice.
+Added: The program will expire March 31, 2023.
There were no purchases made by or on behalf of us or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Exchange Act) of our common stock during the fourth quarter of 2022.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.