Amalgamated Financial Corp. Announces 25% Quarterly Dividend Increase

Rhea-AI Summary

Amalgamated Financial Corp. (Nasdaq: AMAL) has announced a dividend increase of 25%, raising the per-share payout from $0.08 to $0.10. This dividend is set to be paid on August 29, 2022, to shareholders on record as of August 10, 2022. The Board of Directors retains discretion over future dividend payments. As of March 31, 2022, Amalgamated's total assets were $7.7 billion, with net loans of $3.4 billion and deposits of $7.0 billion, reflecting a solid financial standing.

Positive

• 25% increase in quarterly dividend to $0.10 per share, enhancing shareholder income.
• Strong financial position with total assets of $7.7 billion and total deposits of $7.0 billion.

Negative

• None.

NEW YORK, July 27, 2022 (GLOBE NEWSWIRE) -- Amalgamated Financial Corp. (“Amalgamated” or the “Company”) (Nasdaq: AMAL) today announced that its Board of Directors has declared a regular dividend to common stockholders of $0.10 per share, a 25% increase from the previous quarterly dividend of $0.08 per share. The dividend is payable on August 29, 2022, to stockholders of record on August 10, 2022. The amount and timing of any future dividend payments to stockholders will be subject to the discretion of the Board of Directors.

About Amalgamated Financial Corp.

Amalgamated Financial Corp. is a Delaware public benefit corporation and a bank holding company engaged in commercial banking and financial services through its wholly-owned subsidiary, Amalgamated Bank. Amalgamated Bank is a New York-based full-service commercial bank and a chartered trust company with a combined network of five branches across New York City, Washington D.C., and San Francisco, and a commercial office in Boston. Amalgamated Bank was formed in 1923 as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the country's oldest labor unions. Amalgamated Bank provides commercial banking and trust services nationally and offers a full range of products and services to both commercial and retail customers. Amalgamated Bank is a proud member of the Global Alliance for Banking on Values and is a certified B Corporation®. As of March 31, 2022, our total assets were $7.7 billion, total net loans were $3.4 billion, and total deposits were $7.0 billion. Additionally, as of March 31, 2022, our trust business held $39.7 billion in assets under custody and $15.1 billion in assets under management.

Investor Contact:
Jamie Lillis
Solebury Trout
shareholderrelations@amalgamatedbank.com
800-895-4172

Source: Amalgamated Financial Corp.

FAQ

What is the new dividend amount for Amalgamated Financial Corp. (AMAL)?

The new dividend amount is $0.10 per share, a 25% increase from the previous $0.08.

When will the dividend for AMAL be paid?

The dividend will be paid on August 29, 2022.

Who is eligible for the Amalgamated Financial Corp. dividend?

Shareholders on record as of August 10, 2022, are eligible for the dividend.

How often does Amalgamated Financial Corp. pay dividends?

Amalgamated Financial Corp. pays dividends quarterly, but future payments are at the discretion of the Board.

What is the financial status of Amalgamated Financial Corp. as of March 31, 2022?

As of March 31, 2022, Amalgamated had total assets of $7.7 billion and total deposits of $7.0 billion.