Dime Community Bancshares Inc. Announces Increase in Common Stock Dividend

Rhea-AI Summary

Dime Community Bancshares, Inc. (Nasdaq: DCOM) has announced a 4.2% increase in its quarterly cash dividend, raising it from $0.24 to $0.25 per share. The dividend will be payable on April 24, 2023, to stockholders of record as of April 17, 2023. This increase reflects the company’s strong financial position. Dime Community Bancshares operates Dime Community Bank, which holds over $13.1 billion in assets and leads in deposit market share among community banks on Greater Long Island.

Positive

• Quarterly cash dividend increased by 4.2%, from $0.24 to $0.25 per share.
• Reflects strong financial position of the company.
• Dime Community Bank has over $13.1 billion in assets.

Negative

• None.

News Market Reaction – DCOM

-2.15%

-2.15% Session move

In the trading session that priced this news, DCOM declined 2.15%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HAUPPAUGE, N.Y., March 09, 2023 (GLOBE NEWSWIRE) -- Dime Community Bancshares, Inc. (Nasdaq: DCOM) (the “Company”) announced that its Board of Directors declared a 4.2% increase in the quarterly cash dividend, from $0.24 per share of common stock, to $0.25 per share of common stock. The dividend is payable on April 24, 2023 to common stockholders of record as of April 17, 2023. The dividend increase reflects Dime’s strong financial position.

ABOUT DIME COMMUNITY BANCSHARES, INC.

Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $13.1 billion in assets and the number one deposit market share among community banks on Greater Long Island ⁽¹⁾.

Dime Community Bancshares, Inc.
Investor Relations Contact:
Avinash Reddy
Senior Executive Vice President – Chief Financial Officer
Phone: 718-782-6200; Ext. 5909
Email: avinash.reddy@dime.com

¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets.

FAQ

When is the Dime Community Bancshares dividend payment date?

The dividend payment date is April 24, 2023.

What is the new dividend amount for Dime Community Bancshares?

The new dividend amount is $0.25 per share.

What was the previous dividend amount before the increase?

The previous dividend amount was $0.24 per share.

Who are the stockholders of record for the upcoming Dime dividend?

Stockholders of record as of April 17, 2023, will receive the dividend.

What is Dime Community Bancshares' market position?

Dime Community Bank has the number one deposit market share among community banks on Greater Long Island.