OceanFirst Financial Corp. Declares Quarterly Cash Dividend for Series A Preferred Stock

Rhea-AI Summary

OceanFirst Financial Corp. (NASDAQ: OCFC) has announced a quarterly cash dividend of $0.4375 per share for its Series A Preferred Stock. This dividend is payable on November 16, 2020, to stockholders of record by October 30, 2020. With assets totaling $11.3 billion, OceanFirst Bank, founded in 1902, is a major regional bank providing various financial services across New Jersey and metropolitan areas of Philadelphia and New York City.

Positive

• Quarterly cash dividend declared at $0.4375 per share for Series A Preferred Stock, indicating strong shareholder returns.

Negative

• None.

News Market Reaction – OCFC

+2.20%

+2.20% Session move

In the trading session that priced this news, OCFC gained 2.20%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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RED BANK, N.J., Oct. 20, 2020 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:“OCFC”), (the “Company”), announced that its Board of Directors has declared a quarterly cash dividend of $0.4375 per share for every depository share, representing 1/40th interest in the Series A Preferred Stock, payable on November 16, 2020 to stockholders of record on October 30, 2020.

OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $11.3 billion regional bank operating throughout New Jersey, metropolitan Philadelphia and metropolitan New York City. OceanFirst Bank delivers commercial and residential financing solutions, trust and asset management and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey.

OceanFirst Financial Corp.’s press releases are available by visiting us at www.oceanfirst.com.

Company Contact:

Michael J. Fitzpatrick
Chief Financial Officer
OceanFirst Financial Corp.
Tel: (732) 240-4500, ext. 7506
Email: Mfitzpatrick@oceanfirst.com

FAQ

What is the dividend amount for OCFC in November 2020?

The dividend amount for OceanFirst Financial Corp. (OCFC) is $0.4375 per share for the Series A Preferred Stock.

When is the OCFC dividend payment date?

The dividend payment date for OCFC is November 16, 2020.

What is the record date for the OCFC dividend?

The record date for the OCFC dividend is October 30, 2020.

Is the dividend for OCFC sustainable?

The press release does not provide specific information regarding the sustainability of the OCFC dividend.