On April 25, 2024, the Board of Directors of Lake Shore Bancorp, Inc. declared a cash dividend of $0.18 per share on its outstanding common stock. The dividend is expected to be paid on May 10, 2024 to stockholders of record as of May 6, 2024. The company announced that it received the written approval from the Federal Reserve Bank of Philadelphia to pay a cash dividend of $0.18 per share to its stockholders.