PARKE BANCORP, INC. ANNOUNCES CASH DIVIDEND
Parke Bancorp (NASDAQ: PKBK) has declared a quarterly cash dividend of $0.18 per share, payable on January 17, 2025, to stockholders of record as of January 3, 2025.
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Rhea-AI Summary
Parke Bancorp (NASDAQ: PKBK) has declared a quarterly cash dividend of $0.18 per share, payable on January 17, 2025, to stockholders of record as of January 3, 2025. The Board plans to continue quarterly dividend payments, subject to various factors including the company's and bank's financial condition and regulatory restrictions.
The company operates through multiple branch offices across New Jersey and Philadelphia, focusing on personal and business financial services for individuals and small businesses in Gloucester, Atlantic, Cape May counties in New Jersey, and Philadelphia area. All deposits are FDIC-insured.
Positive
- Maintaining consistent dividend payment of $0.18 per share
- Broad geographical presence with multiple branch locations
- Diversified business model serving both personal and business segments
Negative
- Future dividends may be reduced or eliminated based on financial conditions
- Dividend payments subject to regulatory restrictions
Details
News Market Reaction – PKBK
The recorded move for PKBK in the trading session of this news was -1.74%.
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The Board anticipates paying cash dividends on a quarterly basis, subject to determination and declaration by the Board of Directors, which will take into account a number of factors, including the financial condition of the Company and the Bank, and any applicable legal and regulatory restrictions on the payment of dividends by the Company. If paid, such dividends may be reduced or eliminated in future periods.
Parke Bancorp, Inc. was incorporated in January 2005, while Parke Bank commenced operations in January 1999. Parke Bancorp and Parke Bank maintain their principal offices at 601 Delsea Drive,
This release may contain forward-looking statements. Such forward-looking statements are subject to risks and uncertainties which may cause actual results to differ materially from those currently anticipated due to a number of factors; our ability to maintain a strong capital base; our ability to continue to pay a dividend in the future; our ability to enhance shareholder value in the future; our earnings and shareholders' equity; and the possibility of additional corrective actions or limitations on the operations of Parke Bancorp and Parke Bank being imposed by banking regulators, therefore, readers should not place undue reliance on any forward-looking statements. Parke Bancorp, Inc. does not undertake, and specifically disclaims, any obligations to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such circumstance.
View original content:https://www.prnewswire.com/news-releases/parke-bancorp-inc-announces-cash-dividend-302334096.html
SOURCE Parke Bancorp, Inc.
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