JOHNSTOWN, Pa., July 19, 2019 /PRNewswire/ -- AmeriServ
Financial, Inc. (NASDAQ: ASRV) announced that its Board of
Directors declared a $0.025 per share
quarterly common stock cash dividend. The cash dividend is
payable August 19, 2019 to
shareholders of record on August 5,
2019. This cash dividend represents a 2.43% annualized yield
using the July 17, 2019 closing
common stock price of $4.11 and
represents an approximate payout ratio of 25% based upon the
Company's recently reported second quarter 2019 earnings per share
of $0.10.
AmeriServ Financial, Inc. is the parent of AmeriServ Financial
Bank and AmeriServ Trust and Financial Services Company in
Johnstown. The Company's subsidiaries provide full-service
banking and wealth management services through sixteen community
offices in southwestern Pennsylvania and Hagerstown, Maryland. The Company also
operates loan production offices in Altoona and Monroeville, Pennsylvania. At
June 30, 2019, AmeriServ had total
assets of $1.19 billion, a book value
of $5.84 per common share and a
tangible book value of $5.15 per
common share.
Forward-Looking Statements
This news release contains forward-looking statements as defined
in the Securities Exchange Act of 1934 and is subject to the safe
harbors created therein. The forward-looking statements contained
herein include, but are not limited to, information regarding
AmeriServ's dividend program and future payment obligations. These
forward-looking statements involve risks and uncertainties that
could cause AmeriServ's results to differ materially from
management's current expectations. Such risks and uncertainties are
detailed in AmeriServ's filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the year
ended December 31, 2018.
Forward-looking statements are based on the beliefs and assumptions
of AmeriServ's management and on currently available information.
The statements in this press release are made as of the date of
this press release, even if subsequently made available by
AmeriServ on its website or otherwise. AmeriServ undertakes no
responsibility to publicly update or revise any forward-looking
statement.
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SOURCE AmeriServ Financial, Inc.