PARKE BANCORP, INC. ANNOUNCES CASH DIVIDEND

Parke Bancorp, Inc. (NASDAQ: PKBK) announced a cash dividend of $0.16 per share, payable on April 20, 2022, to stockholders of record by April 6, 2022.

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Rhea-AI Summary

Parke Bancorp, Inc. (NASDAQ: PKBK) announced a cash dividend of $0.16 per share, payable on April 20, 2022, to stockholders of record by April 6, 2022. The Board intends to pay dividends quarterly, depending on the Company's financial condition and regulatory restrictions, with the possibility of future reductions or eliminations. Founded in 2005, Parke Bancorp operates through multiple branches in New Jersey and Pennsylvania, emphasizing personal and business financial services, backed by FDIC insurance.

Positive

Declared a cash dividend of $0.16 per share, enhancing shareholder income.
Anticipates quarterly dividends, indicating a commitment to returning value to shareholders.

Negative

Future dividends may be reduced or eliminated based on financial conditions and regulatory restrictions.
Forward-looking statements highlight risks related to capital maintenance and regulatory limitations.

Argus Session date unavailable

-0.70% session move Open Argus

Details

News Market Reaction – PKBK

The recorded move for PKBK in the trading session of this news was -0.70%.

Data tracked by StockTitan Argus. Session date unavailable.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

03/24/2022 - 04:15 PM EDT

WASHINGTON TOWNSHIP, N.J., March 24, 2022 /PRNewswire/ -- Parke Bancorp, Inc. (the "Company") (NASDAQ: PKBK) today announced the declaration of a $0.16 per share cash dividend payable on April 20, 2022, to its stockholders of record as of the close of business on April 6, 2022.

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, Washington Township, New Jersey. Parke Bank conducts business through a branch office in Northfield, New Jersey, two branch offices in Washington Township, New Jersey, a branch office in Galloway Township, New Jersey, a branch office in Collingswood, New Jersey, a branch in center city Philadelphia and a branch in Chinatown in Philadelphia. Parke Bank is a full service commercial bank, with an emphasis on providing personal and business financial services to individuals and small-sized businesses primarily in Gloucester, Atlantic and Cape May counties in New Jersey and Philadelphia and surrounding counties in Pennsylvania. Parke Bank's deposits are insured up to the maximum legal amount by the Federal Deposit Insurance Corporation (FDIC). Parke Bancorp's common stock is traded on the NASDAQ Capital Market under the symbol "PKBK".

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-301510117.html

SOURCE Parke Bancorp, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the dividend amount announced by Parke Bancorp (PKBK)?

Parke Bancorp announced a cash dividend of $0.16 per share.

When will the dividend be paid to shareholders of Parke Bancorp (PKBK)?

The dividend will be paid on April 20, 2022.

What is the record date for the dividend of Parke Bancorp (PKBK)?

The record date for the dividend is April 6, 2022.

How often does Parke Bancorp plan to pay dividends?

Parke Bancorp plans to pay dividends on a quarterly basis.

Are there risks associated with the dividend payments of Parke Bancorp (PKBK)?

Yes, future dividends may be reduced or eliminated based on financial conditions and regulatory restrictions.

PARKE BANCORP, INC. ANNOUNCES CASH DIVIDEND