The First of Long Island Corporation Announces First Quarter Cash Dividend of $.21 Per Share

Rhea-AI Summary

The First of Long Island Corporation (FLIC) declared a first quarter cash dividend of $.21 per share, payable on March 21, 2024. FLIC, the parent company of The First National Bank of Long Island, focuses on business and consumer needs in Long Island and NYC, offering a range of financial services.

Financial Analyst

The declaration of a cash dividend by The First of Long Island Corporation (FLIC) signifies the company's current financial health and stability, which is a positive signal to investors. A dividend payout can often be interpreted as a sign that the company has sufficient earnings and cash flow to share profits with shareholders. The specified amount of $.21 per share provides a tangible return on investment, which is an important consideration for income-focused investors.

When analyzing the dividend yield, which is the dividend per share divided by the price per share, it's essential to compare it to the industry average to assess the attractiveness of the dividend. Investors should also consider the company's dividend payout ratio, which is the percentage of earnings paid to shareholders in dividends. A sustainable payout ratio typically ranges from 35% to 55% for healthy companies, though this can vary by industry.

Furthermore, the consistency and potential growth of dividends are critical. A company that steadily increases its dividends may be seen as more reliable and potentially more valuable in the long term. Investors should also be aware of the ex-dividend date, which is one business day before the record date, as shares bought on or after this date will not qualify for the declared dividend.

Market Research Analyst

The impact of dividend announcements on the stock market can be multifaceted. Dividends are often a component of the total return on a stock, alongside capital gains. In the case of The First of Long Island Corporation, the announcement of a dividend payment may lead to increased trading activity as investors adjust their positions based on the new information. The market's response can also reflect its perception of the company's future earnings potential and the sustainability of its dividend payments.

Moreover, the bank's focus on serving small to middle market businesses, professional service firms, not-for-profits, municipalities and consumers in Long Island and New York City suggests a targeted regional approach. This regional focus could influence the bank's resilience to localized economic shifts and should be factored into the analysis of the bank's future performance and its ability to maintain dividend payments.

The bank's emphasis on a 'Customer First' banking experience and its range of products, including lending, deposit, investment and digital offerings, indicate a strategic approach to customer retention and market penetration. These factors can contribute to the company's competitive positioning and financial performance, which in turn can affect investor sentiment and stock valuation.

MELVILLE, N.Y., March 07, 2024 (GLOBE NEWSWIRE) -- The First of Long Island Corporation (Nasdaq: FLIC) announced today the declaration of a first quarter cash dividend in the amount of $.21 per share. The dividend will be paid on March 21, 2024 to shareholders of record on March 13, 2024.

The First of Long Island Corporation is the parent company of The First National Bank of Long Island. Through its branch network branded as First National Bank LI, the Bank focuses on business and consumer needs on Long Island and in New York City. We offer a broad set of lending, deposit, investment, and digital products. First National Bank LI is known for its culture of delivering extraordinary service and a “Customer First” banking experience to small and middle market businesses, professional service firms, not-for-profits, municipalities and consumers.

For More Information Contact:
Janet Verneuille, SEVP & CFO
(516) 671-4900, Ext. 7462

What is the dividend amount declared by The First of Long Island Corporation?

The First of Long Island Corporation declared a first quarter cash dividend of $.21 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on March 21, 2024.

What is the ticker symbol for The First of Long Island Corporation?

The ticker symbol for The First of Long Island Corporation is FLIC.

What kind of financial services does The First of Long Island Corporation offer?

The First of Long Island Corporation offers a broad set of lending, deposit, investment, and digital products.