Meridian Bancorp, Inc. Announces 40% Increase in Quarterly Dividend
November 27 2018 - 4:05PM
Meridian Bancorp, Inc. (the “Company” or “Meridian”) (NASDAQ:
EBSB), the holding company for East Boston Savings Bank, today
declared a quarterly cash dividend of $0.07 per common share, an
increase of $0.02 per common share or 40%, payable on January 2,
2019 to stockholders of record at the close of business on December
18, 2018.
Richard J. Gavegnano, Chairman, President and
Chief Executive Officer of the Company, said, “Our Board of
Directors approved this 40% increase in our quarterly dividend in
recognition of our rising earnings trends driven by continued
growth in net interest income, strong asset quality and prudent
expense management as enhanced this year by a lower federal income
tax rate.”
Meridian Bancorp, Inc. is the holding company
for East Boston Savings Bank. East Boston Savings Bank, a
Massachusetts-chartered stock savings bank founded in 1848,
operates 36 full-service locations in the greater Boston
metropolitan area. We offer a variety of deposit and loan products
to individuals and businesses located in our primary market, which
consists of Essex, Middlesex, Norfolk and Suffolk Counties,
Massachusetts. For additional information, visit www.ebsb.com.
Forward Looking Statements
Certain statements herein constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements may be
identified by words such as “believes,” “will,” “expects,”
“project,” “may,” “could,” “developments,” “strategic,”
“launching,” “opportunities,” “anticipates,” “estimates,”
“intends,” “plans,” “targets” and similar expressions. These
statements are based upon the current beliefs and expectations of
Meridian Bancorp, Inc.’s management and are subject to significant
risks and uncertainties. Actual results may differ materially from
those set forth in the forward-looking statements as a result of
numerous factors. Factors that could cause such differences to
exist include, but are not limited to, general economic conditions,
changes in interest rates, regulatory considerations, and
competition and the risk factors described in the Company’s Annual
Report on Form 10-K and Quarterly Reports on Form 10-Q as filed
with the Securities and Exchange Commission. Should one or more of
these risks materialize or should underlying beliefs or assumptions
prove incorrect, Meridian Bancorp, Inc.’s actual results could
differ materially from those discussed. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this release.
Contact: Richard J. Gavegnano, Chairman, President
and Chief Executive Officer (978) 977-2211
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