Prudential Bancorp, Inc. Announces Declaration of Quarterly Cash Dividend Plus Special Nonrecurring Dividend
August 15 2018 - 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 $0.40 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
$0.35 per outstanding common share. This dividend will be
paid on September 21, 2018 to shareholders of record at the close
of business on September 7, 2018.
Dennis Pollack, President and CEO, commented,
“This 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
shareholders. We appreciate our shareholders’ 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 Bank conducts business
from its headquarters and main office in Philadelphia, Pennsylvania
as well as 9 additional full-service financial centers, seven of
which are in Philadelphia, one in Drexel Hill, Delaware County, and
one in Huntingdon Valley, Montgomery County, Pennsylvania. At
June 30, 2018, the Company had assets totaling $1.0 billion,
liabilities totaling $897.3 million and shareholders’ equity
totaling $131.5 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.
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 Bank,
215-755-1500.
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