Essa Bancorp, Inc. Declares Quarterly Dividend

Rhea-AI Summary

ESSA Bancorp has declared a quarterly dividend of $0.11 per share, payable on September 30, 2020 to shareholders of record as of September 16, 2020. This decision reflects the company’s commitment to returning value to its investors. The holding company, which oversees ESSA Bank & Trust with total assets of $2.0 billion, continues to provide comprehensive banking services across key markets in Pennsylvania.

Positive

• Declared a quarterly dividend of $0.11 per share.
• Demonstrates commitment to returning value to shareholders.
• Financial strength with total assets of $2.0 billion.

Negative

• Potential risks associated with forward-looking statements.
• Subject to economic fluctuations and competitive pressures.

STROUDSBURG, PA / ACCESSWIRE / August 26, 2020 / ESSA Bancorp, Inc. (NASDAQGS:ESSA), the holding company for ESSA Bank & Trust, a $2.0 billion asset institution providing full-service retail and commercial banking, financial and investment services, today announced that its Board of Directors declared a dividend of eleven cents ($0.11) per share. The dividend is payable to shareholders of record as of September 16, 2020, payable on September 30, 2020.

About the Company ESSA Bancorp, Inc. is the holding company for its wholly-owned subsidiary, ESSA Bank & Trust, which was formed in 1916. Headquartered in Stroudsburg, Pennsylvania, the Company has total assets of $2.0 billion and has 22 community offices throughout the Greater Pocono, Lehigh Valley, Scranton/Wilkes-Barre, and suburban Philadelphia markets in Pennsylvania. ESSA Bank & Trust offers a full range of commercial and retail financial services, asset management and trust services, investment services through Ameriprise Financial Institutions Group, and insurance benefit services through ESSA Advisory Services, LLC. ESSA Bancorp, Inc. stock trades on the NASDAQ Global MarketSM under the symbol "ESSA."

Forward-Looking Statements

Certain statements contained herein are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of those terms. Forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, those related to the economic environment, particularly in the market areas in which the Company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including compliance costs and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset-liability management, the financial and securities markets, the availability of and costs associated with sources of liquidity and the effects of any pandemic, including COVID-19, and those risk factors described in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports filed on Form 10-Q.

The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically declines any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Contact: Gary S. Olson, President & CEO
Corporate Office: 200 Palmer Street
Stroudsburg, Pennsylvania 18360
Telephone: (570) 421-0531

SOURCE: ESSA Bancorp Inc.

View source version on accesswire.com:
https://www.accesswire.com/603475/Essa-Bancorp-Inc-Declares-Quarterly-Dividend

FAQ

What is the dividend amount declared by ESSA?

ESSA declared a dividend of $0.11 per share.

When is the dividend payable for ESSA?

The dividend is payable on September 30, 2020.

What is the record date for ESSA's dividend?

The record date for the dividend is September 16, 2020.

How does ESSA's dividend impact shareholders?

The dividend reflects ESSA's commitment to shareholder value, providing a direct income source.

What are the potential risks mentioned in ESSA's press release?

ESSA highlights risks related to economic conditions, competition, and regulatory changes.