Oritani Financial Corp. Announces $0.15 Special Dividend
November 20 2018 - 9:15AM
Oritani Financial Corp. (the “Company” or “Oritani”) (NASDAQ:
ORIT), the holding company for Oritani Bank (the “Bank”) announced
that its Board of Directors has declared a special cash dividend of
$0.15 per share on the Company’s common stock. The record
date for the dividend will be December 7, 2018 and the payment date
will be December 21, 2018.
“The Board of Directors of Oritani is delighted
to continue its practice of a special dividend for the shareholders
of the Company,” said Kevin J. Lynch, the Company’s Chairman,
President and CEO. “Despite the increase in the rate of our
regular quarterly dividend, we were still able to generate a
special dividend in 2018. Although our earnings for the
twelve months ended September 30, 2018 approximated the dividends
paid in that period, the Board decided to focus on our normalized
earnings for the period and determined that this special dividend
was appropriate.”
About the CompanyOritani
Financial Corp. is the holding company for Oritani Bank, a New
Jersey state chartered bank offering a full range of retail and
commercial loan and deposit products. Oritani Bank is
dedicated to providing exceptional personal service to its
individual and business customers. The Bank currently
operates its main office and 25 full service branches in the New
Jersey Counties of Bergen, Hudson, Essex and Passaic. For
additional information about Oritani Bank, please visit
www.oritani.com.
Forward Looking
StatementsCertain statements contained herein are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Such forward-looking statements may be
identified by reference to a future period or periods, or by the
use of forward-looking terminology, such as "may," "will,"
"believe," "expect," "estimate," "anticipate," "continue,” or
similar terms or variations on those terms, or the negative of
those terms. Forward-looking statements are subject to numerous
risks and uncertainties, including those risk factors disclosed in
the Company’s Annual Report on Form 10-K for the year ended June
30, 2018 and the following: those related to the economic
environment, particularly in the market areas in which the Company
operates, competitive products and pricing, fiscal and monetary
policies of the U.S. Government, changes in government regulations
affecting financial institutions, including regulatory fees and
capital requirements, changes in prevailing interest rates, credit
risk management, asset-liability management, the financial and
securities markets and the availability of and costs associated
with sources of liquidity.
The Company wishes to caution readers not to
place undue reliance on any such forward-looking statements, which
speak only as of the date made. The Company wishes to advise
readers that the factors listed above could affect the Company's
financial performance and could cause the Company's actual results
for future periods to differ materially from any opinions or
statements expressed with respect to future periods in any current
statements. The Company does not undertake and specifically
declines any obligation to publicly release the result of any
revisions, which may be made to any forward-looking statements to
reflect events or circumstances after the date of such statements
or to reflect the occurrence of anticipated or unanticipated
events.
For further information contact:Kevin J. LynchChairman,
President and Chief Executive OfficerOritani Financial Corp.(201)
664-5400
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