Prudential Bancorp, Inc. Announces Declaration of Quarterly Cash Dividend
November 18 2020 - 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 $0.07 per share on the common stock of
the Company, payable on December 21, 2020 to the shareholders of
record at the close of business on December 7, 2020.
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 conducts business from its
headquarters and main office in Philadelphia, Pennsylvania as well
as nine 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 September
30, 2020, the Company had assets totaling $1.2 billion, liabilities
totaling $1.1 billion and shareholders’ equity totaling $129.1
million.
This press release contains “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements include, but are not limited
to, expectations or predictions of future financial or business
performance, conditions relating to the Company. These
forward-looking statements include statements with respect to the
Company’s beliefs, plans, objectives, goals, expectations,
anticipations, estimates and intentions, that are subject to
significant risks and uncertainties, and are subject to change
based on various factors (some of which are beyond the Company’s
control). The words “may,” “could,” “should,” “would,” “will,”
“believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan” and
similar expressions are intended to identify forward-looking
statements.
In addition to factors previously disclosed in
the reports filed by the Company with the Securities and Exchange
Commission (“SEC”) and those identified elsewhere in this press
release, the following factors, among others, could cause actual
results to differ materially from forward-looking statements or
historical performance: the strength of the United States economy
in general and the strength of the local economies in which the
Company conducts its operations; general economic conditions; the
scope and duration of the COVID-19 pandemic; the effects of the
COVID-19 pandemic, including on the Company’s credit quality and
operations, its customers, counterparties, employees and
third-party service providers as well as its impact on general
economic conditions, both locally and nationally, including further
increases in unemployment rates and continued restrictions on the
operations of businesses in the markets in which the Company
operates; legislative and regulatory changes including actions
taken by governmental authorities in response to the COVID-19
pandemic including but not limited to the enactment and
implementation of the CARES Act; monetary and fiscal policies of
the federal government, especially in response to the COVID-19
pandemic; changes in tax policies, rates and regulations of
federal, state and local tax authorities including the effects of
the Tax Reform Act; changes in interest rates, deposit flows, the
cost of funds, demand for loan products and the demand for
financial services, in each case as may be affected by the COVID-19
pandemic, competition, changes in the quality or composition of the
Company’s loan, investment and mortgage-backed securities
portfolios; geographic concentration of the Company’s business;
fluctuations in real estate values, especially in light of the
COVID-19 pandemic; the adequacy of loan loss reserves; the risk
that goodwill and intangibles recorded in the Company’s financial
statements will become impaired; changes in accounting principles,
policies or guidelines and other economic, competitive,
governmental and technological factors affecting the Company’s
operations, markets, products, services and fees.
For a complete discussion of the assumptions,
risks and uncertainties related to our business, you are encouraged
to review the Company’s filings with the SEC, including the “Risk
Factors” section in its most recent Annual Report on Form 10-K for
the year ended September 30, 2019, as supplemented by its Form 10-Q
for the quarter ended June 30, 2020 and as may be further
supplemented by quarterly or other reports subsequently filed with
the SEC.
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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