The Bank of Princeton Announces Declaration of a $0.10 Quarterly Cash Dividend

Rhea-AI Summary

The Bank of Princeton (NASDAQ – BPRN) declared a cash dividend of $0.10 per share at its Board of Directors meeting on July 22, 2020. This dividend will be paid on September 2, 2020 to shareholders of record by the close of business on August 14, 2020. The Bank aims to provide returns to shareholders, although future dividends are subject to the Board's discretion based on financial conditions and regulatory restrictions. The Bank operates 19 branches in New Jersey and three in Pennsylvania, and is a member of the FDIC.

Positive

• Declared a quarterly cash dividend of $0.10 per share, reflecting a commitment to return value to shareholders.
• Strong community presence with 19 branches in New Jersey and 3 in Pennsylvania.

Negative

• Future dividends may be reduced or eliminated based on financial condition and regulatory constraints.
• Risks associated with lending activities and market volatility could impact financial performance.

PRINCETON, N.J., July 22, 2020 /PRNewswire/ -- The Bank of Princeton (the "Bank") (NASDAQ – BPRN) announced that its Board of Directors, at a meeting held on July 22, 2020, declared a cash dividend of $0.10 per share of the common stock of the Bank.  This dividend will be paid on September 2, 2020 to shareholders of record at the close of business on August 14, 2020.  "This dividend reflects the Board of Director's commitment in providing a return to shareholders," stated Edward Dietzler, President and CEO. 

The paying cash dividends on a quarterly basis, subject to a determination and declaration each quarter by its Board of Directors, which will take into account a number of factors, including the financial condition of the Bank, and any applicable legal and regulatory restrictions on the payment of dividends by the Bank.  If paid, such dividends may be reduced or eliminated in future periods.

About The Bank of Princeton

The Bank of Princeton is a community bank founded in 2007.  The Bank is a New Jersey state-chartered commercial bank with 19 branches in New Jersey, including four in Princeton and others in Bordentown, Browns Mills, Chesterfield, Cream Ridge, Deptford, Hamilton, Lakewood, Lambertville, Lawrenceville, Monroe, New Brunswick, Pennington, Princeton Junction, Quakerbridge and Sicklerville.  There are also three branches in the Philadelphia, Pennsylvania area. The Bank of Princeton is a member of the Federal Deposit Insurance Corporation ("FDIC").

Forward-Looking Statements

The Bank of Princeton may from time to time make written or oral "forward-looking statements," including statements contained in the Bank's filings with the FDIC, in its reports to stockholders and in other communications by the Bank (including this press release), which are made in good faith by the Bank pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended.

These forward-looking statements involve risks and uncertainties, such as statements of the Bank's plans, objectives, expectations, estimates and intentions that are subject to change based on various important factors (some of which are beyond the Bank's control). The following factors, among others, could cause the Bank's financial performance to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements: the impact of the recent global coronavirus outbreak, the strength of the United States economy in general and the strength of the local economies in which the Bank conducts operations; the effects of, and changes in, trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; inflation, interest rate, market and monetary fluctuations; market volatility; the value of the Bank's products and services as perceived by actual and prospective customers, including the features, pricing and quality compared to competitors' products and services; the willingness of customers to substitute competitors' products and services for the Bank's products and services; credit risk associated with the Bank's lending activities; risks relating to the real estate market and the Bank's real estate collateral; the impact of changes in applicable laws and regulations and requirements arising out of our supervision by banking regulators; other regulatory requirements applicable to the Bank; technological changes; acquisitions; changes in consumer spending and saving habits; those risks set forth in the Bank's Annual Report on Form 10-K for the year ended December 31, 2019 under the heading "Risk Factors," and the success of the Bank at managing the risks involved in the foregoing.

Contact George Rapp
609.454.0718
grapp@thebankofprinceton.com

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SOURCE The Bank of Princeton

FAQ

What is the dividend amount declared by BPRN?

The dividend amount declared by BPRN is $0.10 per share.

When will the dividend be paid to shareholders of BPRN?

The dividend will be paid on September 2, 2020.

What is the record date for the BPRN dividend?

The record date for the dividend is August 14, 2020.

How often does BPRN pay dividends?

BPRN pays dividends on a quarterly basis, subject to Board approval.

What factors influence BPRN's dividend payments?

Dividend payments are influenced by the Bank's financial condition and legal or regulatory restrictions.