AMERISERV FINANCIAL, INC. ANNOUNCES QUARTERLY COMMON STOCK CASH DIVIDEND

Rhea-AI Summary

AmeriServ Financial, Inc. (ASRV) declared a $0.03 per share quarterly common stock cash dividend with a 4.67% annualized yield. The dividend is payable on May 20, 2024, to shareholders of record on May 6, 2024. The Company's dividend payout ratio for Q1 2024 was 27.3%. AmeriServ operates banking and wealth management services in Pennsylvania and Maryland, with total assets of $1.385 billion as of March 31, 2024.

Positive

• AmeriServ Financial, Inc. declared a $0.03 per share quarterly common stock cash dividend.
• The dividend has a 4.67% annualized yield based on the closing stock price of $2.57 on April 17, 2024.
• Shareholders of record on May 6, 2024, will receive the cash dividend on May 20, 2024.
• The Company's dividend payout ratio for the first quarter of 2024 was 27.3%.
• AmeriServ Financial, Inc. operates banking and wealth management services through its subsidiaries in Pennsylvania and Maryland.
• The Company had total assets of $1.385 billion and a book value of $6.06 per common share as of March 31, 2024.

Negative

• None.

JOHNSTOWN, Pa., April 19, 2024 /PRNewswire/ -- AmeriServ Financial, Inc. (NASDAQ: ASRV) announced that its Board of Directors declared a $0.03 per share quarterly common stock cash dividend. The cash dividend is payable May 20, 2024 to shareholders of record on May 6, 2024. This cash dividend represents a 4.67% annualized yield using the April 17, 2024 closing common stock price of $2.57. For the first quarter of 2024, the Company's dividend payout ratio amounted to 27.3%.

 AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank and AmeriServ Trust and Financial Services Company in Johnstown. The Company's subsidiaries provide full-service banking and wealth management services through sixteen community offices in southwestern Pennsylvania and Hagerstown, Maryland. The Company also operates loan production offices in Altoona and Monroeville, Pennsylvania. At March 31, 2024, AmeriServ had total assets of $1.385 billion and a book value of $6.06 per common share. 

Forward-Looking Statements

This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, information regarding AmeriServ's dividend program and future payment obligations. These forward-looking statements involve risks and uncertainties that could cause AmeriServ's results to differ materially from management's current expectations. Such risks and uncertainties are detailed in AmeriServ's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2023. Forward-looking statements are based on the beliefs and assumptions of AmeriServ's management and on currently available information. The statements in this press release are made as of the date of this press release, even if subsequently made available by AmeriServ on its website or otherwise. AmeriServ undertakes no responsibility to publicly update or revise any forward-looking statement.

 

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SOURCE AmeriServ Financial, Inc.

FAQ

What is the quarterly common stock cash dividend declared by AmeriServ Financial, Inc. (ASRV)?

AmeriServ Financial, Inc. declared a $0.03 per share quarterly common stock cash dividend.

When is the cash dividend payable to shareholders of AmeriServ Financial, Inc. (ASRV)?

The cash dividend is payable on May 20, 2024, to shareholders of record on May 6, 2024.

What was the dividend payout ratio for AmeriServ Financial, Inc. (ASRV) in the first quarter of 2024?

The Company's dividend payout ratio for the first quarter of 2024 was 27.3%.

How many community offices does AmeriServ Financial, Inc. (ASRV) operate in southwestern Pennsylvania and Hagerstown, Maryland?

AmeriServ Financial, Inc. operates through sixteen community offices in southwestern Pennsylvania and Hagerstown, Maryland.

What were the total assets of AmeriServ Financial, Inc. (ASRV) as of March 31, 2024?

AmeriServ Financial, Inc. had total assets of $1.385 billion as of March 31, 2024.