Riverview Bancorp Declares Quarterly Cash Dividend of $0.06 Per Share

Rhea-AI Summary

Riverview Bancorp, Inc. (RVSB) announces a quarterly cash dividend of $0.06 per share, unchanged from the previous quarter. The dividend will be payable on January 16, 2024, to shareholders of record on January 5, 2024, with an annualized dividend yield of 3.84%.

Financial Analyst

When assessing the dividend announcement by Riverview Bancorp, Inc., the unchanged quarterly cash dividend signals a stable return for investors, maintaining the status quo. The declared dividend yield of 3.84% offers a clear benchmark for income-focused investors, especially when compared to current interest rates and alternative investment opportunities. It's imperative to consider the payout ratio, the percentage of net income given out as dividends, as it reflects the company's ability to sustain its dividend payments. A stable or increasing dividend can be a positive indicator of a company's financial health and a sign of confidence by the board in its future cash flows.

Market Research Analyst

Analyzing the market implications, Riverview Bancorp's dividend consistency might be interpreted as a positive signal within the financial sector, which is often looked at for reliable income streams. The dividend policy can influence investor perception, potentially affecting the stock's market price. In the broader economic context, where investors might be concerned about volatility or looking for safer havens, consistent dividends can make financial stocks like Riverview more attractive. However, investors should also be aware of the overall industry trends, as shifts in regulatory environments, interest rates and economic cycles can impact the sector's performance.

VANCOUVER, Wash., Dec. 26, 2023 (GLOBE NEWSWIRE) -- Riverview Bancorp, Inc. (Nasdaq GSM: RVSB) (“Riverview” or the “Company”) today announced that on December 20, 2023, its Board of Directors approved a quarterly cash dividend to $0.06 per share, which remained unchanged compared to the preceding quarter. The dividend will be payable January 16, 2024, to shareholders of record on January 5, 2024. Based on the current share price, the annualized dividend yield is 3.84%.  

About Riverview

Riverview Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington – just north of Portland, Oregon on the I-5 corridor. With assets of $1.58 billion at September 30, 2023, it is the parent company of the 100-year-old Riverview Bank, as well as Riverview Trust Company. The Bank offers true community banking services, focusing on providing the highest quality service and financial products to commercial and retail clients. There are 17 branches, including 13 in the Portland-Vancouver area and three lending centers. For the past 10 years, Riverview has been named Best Bank by the readers of The Vancouver Business Journal and The Columbian.

This press release contains statements that the Company believes are “forward-looking statements.” These statements relate to the Company’s financial condition, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements, as they are subject to risks and uncertainties. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to the Company.

Contacts:	Dan Cox and David Lam
	Riverview Bancorp, Inc. 360-693-6650

What is the quarterly cash dividend announced by Riverview Bancorp, Inc. (RVSB)?

Riverview Bancorp, Inc. (RVSB) announced a quarterly cash dividend of $0.06 per share, unchanged from the previous quarter.

When will the dividend be payable to shareholders of Riverview Bancorp, Inc. (RVSB)?

The dividend will be payable on January 16, 2024, to shareholders of record on January 5, 2024.

What is the annualized dividend yield for Riverview Bancorp, Inc. (RVSB)?

Based on the current share price, the annualized dividend yield is 3.84%.