Meridian Bancorp, Inc. Announces Quarterly Dividend

Rhea-AI Summary

Meridian Bancorp (NASDAQ: EBSB) has declared a quarterly cash dividend of $0.08 per share, payable on October 1, 2020, to stockholders of record by the close of business on September 17, 2020. Founded in 1848, Meridian operates 42 branches in the greater Boston area, providing various deposit and loan products to individuals and businesses.

Positive

• Quarterly cash dividend of $0.08 enhances shareholder income.
• Continued operation of 42 branches indicates stability and potential growth in the market.

Negative

• Market risks include changes in interest rates and competition, which could impact financial results.

BOSTON, Aug. 27, 2020 (GLOBE NEWSWIRE) -- Meridian Bancorp, Inc. (the “Company” or “Meridian”) (NASDAQ: EBSB), the holding company for East Boston Savings Bank, today declared a quarterly cash dividend of $0.08 per common share, payable on October 1, 2020 to stockholders of record at the close of business on September 17, 2020.

Meridian Bancorp, Inc. is the holding company for East Boston Savings Bank. East Boston Savings Bank, a Massachusetts-chartered stock savings bank founded in 1848, operates 42 branches in the greater Boston metropolitan area, including 41 full-service locations and one mobile branch. We offer a variety of deposit and loan products to individuals and businesses located in our primary market, which consists of Essex, Middlesex, Norfolk and Suffolk Counties, Massachusetts. For additional information, visit www.ebsb.com.

Forward Looking Statements

Certain statements herein constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “believes,” “will,” “expects,” “project,” “may,” “could,” “developments,” “strategic,” “launching,” “opportunities,” “anticipates,” “estimates,” “intends,” “plans,” “targets” and similar expressions. These statements are based upon the current beliefs and expectations of Meridian Bancorp, Inc.’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to, general economic conditions, changes in interest rates, regulatory considerations, and competition and the risk factors described in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Meridian Bancorp, Inc.’s actual results could differ materially from those discussed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release.

Richard J. Gavegnano, Chairman, President and Chief Executive Officer
(978) 977-2211

FAQ

What is the dividend amount for Meridian Bancorp for Q3 2020?

The dividend amount is $0.08 per common share.

When will the dividend be paid to shareholders of EBSB?

The dividend will be paid on October 1, 2020.

What is the record date for Meridian Bancorp's dividend?

The record date is September 17, 2020.

How many branches does East Boston Savings Bank operate?

East Boston Savings Bank operates 42 branches.

What are the main areas served by East Boston Savings Bank?

The main areas served include Essex, Middlesex, Norfolk, and Suffolk Counties in Massachusetts.