Meridian Bancorp, Inc. Announces Quarterly Dividend

Rhea-AI Summary

Meridian Bancorp, Inc. (NASDAQ: EBSB) announced a quarterly cash dividend of $0.08 per common share, set to be paid on July 2, 2020, to stockholders on record by the close of business on June 18, 2020. The company, which operates 40 branches in Massachusetts, continues to provide a variety of financial products to its local market. Meridian emphasizes its commitment to shareholders through this dividend distribution.

Positive

• Quarterly cash dividend of $0.08 per share enhances shareholder income.
• Continued operation of 40 branches demonstrates stability in the greater Boston area.

Negative

• Potential economic uncertainties and risks as noted in the forward-looking statements.

BOSTON, May 28, 2020 (GLOBE NEWSWIRE) -- Meridian Bancorp, Inc. (the “Company” or “Meridian”) (NASDAQ: EBSB), the holding company for East Boston Savings Bank, today declared a quarterly cash dividend of $0.08 per common share, payable on July 2, 2020 to stockholders of record at the close of business on June 18, 2020.

Meridian Bancorp, Inc. is the holding company for East Boston Savings Bank. East Boston Savings Bank, a Massachusetts-chartered stock savings bank founded in 1848, operates 40 branches in the greater Boston metropolitan area, including 39 full-service locations and one mobile branch. We offer a variety of deposit and loan products to individuals and businesses located in our primary market, which consists of Essex, Middlesex, Norfolk and Suffolk Counties, Massachusetts. For additional information, visit www.ebsb.com.

Forward Looking Statements

Certain statements herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “believes,” “will,” “expects,” “project,” “may,” “could,” “developments,” “strategic,” “launching,” “opportunities,” “anticipates,” “estimates,” “intends,” “plans,” “targets” and similar expressions. These statements are based upon the current beliefs and expectations of Meridian Bancorp, Inc.’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, general economic conditions, changes in interest rates, regulatory considerations, and competition and the risk factors described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Meridian Bancorp, Inc.’s actual results could differ materially from those discussed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release.

Richard J. Gavegnano, Chairman, President and Chief Executive Officer
(978) 977-2211

FAQ

What is the dividend amount declared by Meridian Bancorp (EBSB)?

The dividend amount declared is $0.08 per common share.

When will the dividend for EBSB be paid?

The dividend will be paid on July 2, 2020.

Who is eligible to receive the EBSB dividend?

Stockholders of record as of June 18, 2020, are eligible to receive the dividend.

Is the dividend from Meridian Bancorp sustainable?

The sustainability of the dividend may be affected by economic conditions and company performance as outlined in their forward-looking statements.