Amalgamated Financial Corp. Announces a 17% Quarterly Dividend Increase

Rhea-AI Summary

Amalgamated Financial Corp. (Nasdaq: AMAL) has announced a significant increase in its quarterly dividend. The Board of Directors approved a $0.02 increase, raising the dividend by 17% to $0.14 per common share. The dividend will be paid on February 27, 2025, to stockholders of record as of February 11, 2025. Future dividend payments will remain subject to the Board's discretion regarding amount and timing.

Positive

• 17% increase in quarterly dividend from previous amount
• Dividend raised by $0.02 to $0.14 per common share
• Shows company's financial strength and commitment to shareholder returns

Negative

• None.

News Market Reaction

-4.92%

1 alert

-4.92% News Effect

On the day this news was published, AMAL declined 4.92%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, Jan. 22, 2025 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (“Amalgamated” or the “Company”) (Nasdaq: AMAL) today announced that its Board of Directors has authorized a $0.02 increase, or 17%, in the Company’s quarterly dividend to $0.14 per common share, payable by the Company on February 27, 2025, to stockholders of record on February 11, 2025. The amount and timing of any future dividend payments to stockholders will be subject to the discretion of the Board of Directors.

About Amalgamated Financial Corp.

Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, Amalgamated Bank. Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of five branches across New York City, Washington D.C., and San Francisco, and a commercial office in Boston. Amalgamated Bank was formed in 1923 as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the country's oldest labor unions. Amalgamated Bank provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Amalgamated Bank is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation^®. As of September 30, 2024, our total assets were $8.4 billion, total net loans were $4.5 billion, and total deposits were $7.6 billion. Additionally, as of September 30, 2024, our trust business held $35.4 billion in assets under custody and $14.6 billion in assets under management.

Investor Contact:
Jamie Lillis
Solebury Strategic Communications
shareholderrelations@amalgamatedbank.com
800-895-4172

Source: Amalgamated Financial Corp.

FAQ

What is the new quarterly dividend amount for Amalgamated Financial (AMAL)?

The new quarterly dividend amount for Amalgamated Financial (AMAL) is $0.14 per common share, representing a $0.02 or 17% increase.

When will AMAL pay its increased dividend in February 2025?

AMAL will pay its increased dividend on February 27, 2025, to stockholders of record as of February 11, 2025.

How much did AMAL increase its quarterly dividend in January 2025?

AMAL increased its quarterly dividend by $0.02 per share, representing a 17% increase.

What is the record date for AMAL's February 2025 dividend payment?

The record date for AMAL's February 2025 dividend payment is February 11, 2025.