Territorial Bancorp Inc. Declares Special Dividend
November 30 2016 - 4:30PM
Territorial Bancorp Inc. (NASDAQ:TBNK) (the “Company”),
headquartered in Honolulu, Hawaii, the holding company parent of
Territorial Savings Bank, announces that its Board of Directors has
declared a special cash dividend of $0.20 per share payable on
December 21, 2016 to shareholders of record as of December 10,
2016. Last year a special dividend of $0.10 per share was
paid in December 2015.
Allan Kitagawa, Chairman and Chief Executive
Officer said, “The Company continues to perform well in 2016.
To thank our shareholders for their support and confidence in the
Company, we have declared a special dividend of $0.20 per share
that will be paid on December 21, 2016. If you acquired stock in
our 2009 initial public offering at $10.00 per share, you will have
received dividends in 2016 equal to 9.2% of your initial investment
in the Company.”
Forward-looking statements - this
press release contains forward-looking statements, which can be
identified by the use of words such as “estimate,” “project,”
“believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,”
“will,” “may” and words of similar meaning. These forward-looking
statements include, but are not limited to:
- statements of our goals, intentions and
expectations;
- statements regarding our business plans, prospects, growth and
operating strategies;
- statements regarding the asset quality of our loan and
investment portfolios; and
- estimates of our risks and future costs and benefits.
These forward-looking statements are based on our
current beliefs and expectations and are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are beyond our control. In addition,
these forward-looking statements are subject to assumptions with
respect to future business strategies and decisions that are
subject to change. We are under no duty to and do not take any
obligation to update any forward-looking statements after the date
of this release.
The following factors, among others, could cause
actual results to differ materially from the anticipated results or
other expectations expressed in the forward-looking statements:
- general economic conditions, either nationally or in our market
areas, that are worse than expected;
- competition among depository and other financial
institutions;
- inflation and changes in the interest rate environment that
reduce our margins or reduce the fair value of financial
instruments;
- adverse changes in the securities markets;
- changes in laws or government regulations or policies affecting
financial institutions, including changes in regulatory fees and
capital requirements;
- our ability to enter new markets successfully and capitalize on
growth opportunities;
- our ability to successfully integrate acquired entities, if
any;
- changes in consumer spending, borrowing and savings
habits;
- changes in accounting policies and practices, as may be adopted
by the bank regulatory agencies, the Financial Accounting Standards
Board, the Securities and Exchange Commission and the Public
Company Accounting Oversight Board;
- changes in our organization, compensation and benefit
plans;
- changes in our financial condition or results of operations
that reduce capital available to pay dividends; and
- changes in the financial condition or future prospects of
issuers of securities that we own.
Because of these and a wide variety of other
uncertainties, our actual future results may be materially
different from the results indicated by these forward-looking
statements.
Walter Ida
(808) 946-1400
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