Amalgamated Financial Corp. Declares Regular Quarterly Dividend

Rhea-AI Summary

Amalgamated Financial Corp. (Nasdaq: AMAL) has declared a regular dividend of $0.10 per share, which will be payable on May 24, 2023, to stockholders of record on May 10, 2023. Future dividend payments will depend on the Board of Directors' discretion. As of December 31, 2022, Amalgamated Financial reported total assets of $7.8 billion, total net loans of $4.1 billion, and total deposits of $6.6 billion. Additionally, the company’s trust business held $38.1 billion in assets under custody and $13.4 billion in assets under management. Amalgamated Bank, the company's wholly-owned subsidiary, offers a range of commercial banking and financial services across five branches in major U.S. cities.

Positive

• Declared a regular dividend of $0.10 per share, enhancing shareholder returns.
• Total assets reported at $7.8 billion, indicating a solid financial position.
• Total deposits of $6.6 billion, showing strong customer confidence.

Negative

• None.

NEW YORK, April 25, 2023 (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, payable by the Company on May 24, 2023, to stockholders of record on May 10, 2023. 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 December 31, 2022, our total assets were $7.8 billion, total net loans were $4.1 billion, and total deposits were $6.6 billion. Additionally, as of December 31, 2022, our trust business held $38.1 billion in assets under custody and $13.4 billion in assets under management.

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

Source: Amalgamated Financial Corp.

FAQ

When is the dividend payment date for AMAL?

The dividend payment date for AMAL is May 24, 2023.

What is the amount of the dividend for AMAL?

The amount of the dividend for AMAL is $0.10 per share.

Who is eligible to receive the dividend from AMAL?

Stockholders of record on May 10, 2023, are eligible to receive the dividend.

What were AMAL's total assets as of December 31, 2022?

AMAL's total assets were $7.8 billion as of December 31, 2022.