Enterprise Bancorp, Inc. Announces Quarterly Dividend

Rhea-AI Summary

Enterprise Bancorp, Inc. (NASDAQ:EBTC) announced a quarterly dividend of $0.23 per share on April 18, 2023. This dividend, payable on June 1, 2023, reflects a significant 12.2% increase from the previous year's dividend rate. Operating primarily through Enterprise Bank and Trust Company, the company offers a variety of financial services including commercial loans, deposit products, and wealth management services across its 27 branches in Massachusetts and New Hampshire. The record date for shareholders to receive the dividend is May 11, 2023.

Positive

• Quarterly dividend of $0.23 per share declared, a 12.2% increase from 2022.
• Strong operational focus on commercial and consumer financial services.
• Extensive branch network across Massachusetts and New Hampshire enhances market presence.

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• None.

LOWELL, Mass., April 18, 2023 (GLOBE NEWSWIRE) -- Enterprise Bancorp, Inc. (the "Company") (NASDAQ:EBTC)

On April 18, 2023, the Board of Directors of Enterprise Bancorp, Inc. declared a quarterly dividend of $0.23 per share to be paid on June 1, 2023, to shareholders of record as of May 11, 2023. The 2023 dividend rate represents a 12.2% increase over the 2022 dividend rate.

Enterprise Bancorp, Inc. is a Massachusetts corporation that conducts substantially all its operations through Enterprise Bank and Trust Company, commonly referred to as Enterprise Bank. Enterprise Bank is principally engaged in the business of attracting deposits from the general public and investing in commercial loans and investment securities. Through Enterprise Bank and its subsidiaries, the Company offers a range of commercial, residential and consumer loan products, deposit products and cash management services, electronic and digital banking options, as well as wealth management, and trust services. The Company's headquarters and Enterprise Bank's main office are located at 222 Merrimack Street in Lowell, Massachusetts. The Company's primary market area is the Northern Middlesex, Northern Essex, and Northern Worcester counties of Massachusetts and the Southern Hillsborough and Southern Rockingham counties in New Hampshire. Enterprise Bank has 27 full-service branches located in the Massachusetts communities of Acton, Andover, Billerica (2), Chelmsford (2), Dracut, Fitchburg, Lawrence, Leominster, Lexington, Lowell (2), Methuen, North Andover, Tewksbury (2), Tyngsborough and Westford and in the New Hampshire communities of Derry, Hudson, Londonderry, Nashua (2), Pelham, Salem and Windham.

Contact Info: Joseph R. Lussier, Executive Vice President, Chief Financial Officer and Treasurer (978) 656-5578

FAQ

What is the dividend amount declared by Enterprise Bancorp, Inc.?

The dividend amount declared is $0.23 per share.

When is the dividend payment date for Enterprise Bancorp, Inc.?

The dividend payment date is June 1, 2023.

What was the increase in the dividend rate compared to last year?

The dividend rate increased by 12.2% over the 2022 rate.

Who is eligible to receive the dividend from Enterprise Bancorp, Inc.?

Shareholders of record as of May 11, 2023, are eligible to receive the dividend.