Prudential Bancorp has announced a fourth stock repurchase program to buy back up to 407,000 shares, representing approximately 5% of its outstanding shares. This follows the complete execution of its third program, where 900,000 shares were repurchased at an average cost of $13.40 per share. The repurchase can occur in open market or privately negotiated transactions over one year based on market conditions. The program reflects the Board's confidence in future performance and commitment to enhancing shareholder value.
Prudential Bancorp, Inc. (Nasdaq: PBIP) has declared a quarterly cash dividend of $0.07 per share on its common stock. This dividend is scheduled to be paid on June 19, 2020, to shareholders of record as of June 5, 2020. As of March 31, 2020, the Company reported total assets of $1.3 billion and shareholders’ equity of $132.2 million. The Company also highlighted that recent events, including the COVID-19 pandemic, could impact its future performance and financial conditions.