Flushing Financial Corporation Declares Quarterly Dividend of $0.22 per Share

Rhea-AI Summary

Flushing Financial Corporation (Nasdaq: FFIC) announced a quarterly dividend of $0.22 per common share, payable on March 31, 2023, to shareholders of record by March 10, 2023. This marks the 107th consecutive quarterly dividend, underscoring the company's commitment to returning capital to shareholders. In 2022, approximately 71% of earnings were returned through dividends and share repurchases. The company's dividends have grown at a 15% compounded annual growth rate since their inception in 1996, reflecting a strong track record of shareholder value creation.

Positive

• Declared a quarterly dividend of $0.22 per share, reinforcing shareholder returns.
• 107th consecutive quarterly dividend highlights consistent capital return commitment.
• 71% of 2022 earnings returned to shareholders via dividends and repurchases.
• 15% compounded annual growth rate in dividends since 1996 demonstrates long-term value creation.

Negative

• None.

UNIONDALE, N.Y., Feb. 23, 2023 (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 $0.22 per common share, payable on March 31, 2023 to shareholders of record at the close of business on March 10, 2023.

John R. Buran, the Company’s President and Chief Executive Officer, stated: “This quarter’s dividend marks the 107^th consecutive quarterly dividend and highlights the Company’s commitment to returning capital to shareholders. Approximately 71% of earnings were returned to shareholders in 2022 through dividends and share repurchases. Over the long term, the Company has continued to create shareholder value through dividends, which have grown at a 15% compounded annual growth rate since the initial dividend in 1996.”  

FLUSHING FINANCIAL CORPORATION (Nasdaq: FFIC) is the holding company for Flushing Bank®, an FDIC insured, New York State—chartered commercial bank that operates banking offices in Queens, Brooklyn, Manhattan, and on Long Island. The Bank has been building relationships with families, business owners, and communities since 1929. Today, it offers the products, services, and conveniences associated with large commercial banks, including a full complement of deposit, loan, equipment finance, and cash management services. Rewarding customers with personalized attention and bankers that can communicate in the languages prevalent within these multicultural markets is what makes the Bank uniquely different. As an Equal Housing Lender and leader in real estate lending, the Bank’s experienced lending teams create mortgage solutions for real estate owners and property managers both within and outside the New York City metropolitan area. The Bank also fosters relationships with consumers nationwide through its online banking division with the iGObanking® and BankPurely® brands. Additional information on Flushing Financial Corporation and Flushing Bank may be obtained by visiting the Company’s web site at FlushingBank.com.

“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, 2021 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.

#FF

CONTACT:

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

FAQ

What is the dividend amount declared by Flushing Financial Corporation?

Flushing Financial Corporation declared a quarterly dividend of $0.22 per common share.

When is the payment date for the declared dividend?

The dividend is payable on March 31, 2023.

What percentage of earnings was returned to shareholders in 2022?

Approximately 71% of earnings were returned to shareholders in 2022.

What is the historical growth rate of dividends for Flushing Financial Corporation?

The company's dividends have grown at a 15% compounded annual growth rate since 1996.

How many consecutive quarterly dividends has Flushing Financial declared?

Flushing Financial Corporation has declared 107 consecutive quarterly dividends.