Prudential Bancorp, Inc. Announces Declaration of Quarterly Cash Dividend Plus Special Nonrecurring Dividend
November 15 2017 - 4:30PM
Prudential Bancorp, Inc. (the “Company”) (Nasdaq:PBIP) announced
that its Board of Directors, at a meeting held today, declared a
quarterly cash dividend of $0.20 per share on the common stock of
the Company. This quarter’s dividend is comprised of a
regular quarterly dividend of $0.05 and a nonrecurring dividend of
$0.15 per outstanding common share. This dividend will be
paid on December 21, 2017 to the shareholders of record at the
close of business on December 7, 2017.
Dennis Pollack, President and CEO, commented, “The increase in
the regular dividend and the additional nonrecurring dividend is
indicative of our continued commitment to enhance shareholder value
and reflects one of our efforts to leverage our capital and provide
a benefit to our stockholders. We appreciate our
stockholders’ investment in the Company and will continue to
explore available opportunities to enhance shareholder value.”
Prudential Bancorp, Inc. is the holding company for Prudential
Bank, a Pennsylvania-chartered, FDIC-insured savings bank
originally organized in 1886 and headquartered in Philadelphia,
Pennsylvania. Prudential Savings conducts business from its
headquarters and main office in Philadelphia, Pennsylvania as well
as 10 additional full-service financial centers, eight of which are
in Philadelphia, one in Drexel Hill, Delaware County, and one in
Huntingdon Valley, Montgomery County, Pennsylvania. At
September 30, 2017, the Company had assets totaling $899.5 million,
liabilities totaling $763.4 million and shareholders’ equity
totaling $136.2 million.
Statements contained in this news release which are not
historical facts may be forward-looking statements as that term is
defined in the Private Securities Litigation Reform Act of
1995. Forward-looking statements can be identified by the
fact that they do not relate strictly to historical or current
facts. They often include words like “believe,” “expect,”
“anticipate,” “estimate” and “intend” or future or conditional
verbs such as “will,” “would,” “should,” “could” or “may.”
Forward-looking statements, by their nature, are subject to risks
and uncertainties. A number of factors, many of which are
beyond the Company’s control, could cause actual conditions, events
or results to differ significantly from those described in the
forward-looking statements. The Company’s reports filed from
time-to-time with the Securities and Exchange Commission, describe
some of these factors, including general economic conditions,
changes in interest rates, deposit flows, the cost of funds,
changes in credit quality and interest rate risks associated with
the Company’s business and operations. Other factors
described include changes in our loan portfolio, changes in
competition, fiscal and monetary policies, legislation and
regulatory changes, and difficulties and delays in integrating
Polonia Bancorp, Inc.’s (“Polonia”) business or fully realizing
anticipated cost savings and other benefits of the merger with
Polonia which was effective January 1, 2017, and business
disruptions following the merger with Polonia.
Investors are encouraged to access the Company's
periodic reports filed with the Securities and Exchange Commission
for financial and business information regarding the Company at
www.psbanker.com under the Investor Relations menu. We undertake no
obligation to update any forward-looking statements.
Contact:Jack E.
Rothkopf, Senior Vice President, Treasurer, Chief
Financial Officer, Prudential Bancorp, Inc. and Prudential Savings
Bank, 215-755-1500.
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