Flushing Financial Corporation Declares Its Quarterly Dividend of $0.21 Per Share

Rhea-AI Summary

Flushing Financial Corporation (Nasdaq: FFIC) announced a quarterly dividend of $0.21 per common share, payable on June 25, 2021 to shareholders on record by June 4, 2021. The Board's decision reflects the company's strong financial performance and capital position. CEO John R. Buran emphasized the commitment to achieving risk-adjusted returns and managing asset quality while enhancing core earnings. The Bank, serving various client segments, has a robust presence in the New York area and is dedicated to maintaining growth and efficiency.

Positive

• Declared a quarterly dividend of $0.21 per share.
• Strong financial performance supports ongoing dividend payments.
• Commitment to risk-adjusted returns indicates a positive outlook.

Negative

• None.

UNIONDALE, N.Y., May 18, 2021 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq-GS: FFIC), the parent holding company for Flushing Bank (the “Bank”), today announced that the Board of Directors (the “Board”) declared a quarterly dividend on its common stock of $0.21 per common share, payable on June 25, 2021 to shareholders of record at the close of business on June 4, 2021.

John R. Buran, the Company’s President and Chief Executive Officer, stated: “We remain dedicated to the successful execution of our strategic objectives of ensuring appropriate risk-adjusted returns for loans while optimizing the cost of funds, maintaining strong historical loan growth, enhancing core earnings power by improving scalability and efficiency, and managing asset quality with consistent and disciplined underwriting. Our strong financial performance and capital position supports the Company’s decision to declare quarterly cash dividend payments to shareholders. As part of our commitment to enhance the total return to our shareholders, the Board will continue to review future dividend payments on a quarterly basis.”  

FLUSHING FINANCIAL CORPORATION (Nasdaq: FFIC) is the holding company for Flushing Bank®, a New York State-chartered commercial bank insured by the Federal Deposit Insurance Corporation. The Bank serves consumers, businesses, professionals, corporate clients, and public entities by offering a full complement of deposit, loan, equipment finance, and cash management services through its banking offices located in Queens, Brooklyn, Manhattan, and on Long Island. As a leader in real estate lending, the Bank’s experienced lending team creates mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. Flushing Bank is an Equal Housing Lender. The Bank also operates an online banking division consisting of iGObanking.com®, which offers competitively priced deposit products to consumers nationwide, and BankPurely®, an eco-friendly, healthier lifestyle community brand.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this Press Release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors discussed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 and in other documents filed by the Company with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as “may”, “will”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “forecasts”, “goals”, “potential” or “continue” or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements.

Additional information on Flushing Financial Corporation may be obtained by visiting the Company’s web site at http://www.flushingbank.com.

CONTACT:
Susan K. Cullen
Senior Executive Vice President and
Chief Financial Officer
Flushing Financial Corporation
(718) 961-5400

FAQ

What is the dividend amount declared by Flushing Financial Corporation in May 2021?

Flushing Financial Corporation declared a dividend of $0.21 per common share.

When will the dividend be paid to shareholders of Flushing Financial Corporation?

The dividend will be paid on June 25, 2021.

Who is eligible to receive the dividend from Flushing Financial Corporation?

Shareholders on record as of June 4, 2021, are eligible to receive the dividend.

How often does Flushing Financial Corporation review its dividend payments?

The Board reviews future dividend payments on a quarterly basis.