Flushing Financial Corporation Increases Quarterly Dividend to $0.22 per Share

Rhea-AI Summary

Flushing Financial Corporation (Nasdaq: FFIC) announced a quarterly dividend increase to $0.22 per share, up by $0.01 from the previous quarter. This dividend is payable on March 25, 2022, to shareholders of record as of March 11, 2022. The CEO noted that this increase reflects record earnings in 2021 and ongoing positive momentum into 2022, driven by economic recovery and a robust loan pipeline. Flushing Bank operates across New York, offering a range of banking services since 1929.

Positive

• Quarterly dividend raised to $0.22, reflecting strong financial performance.
• CEO indicates record earnings in 2021, signaling company growth.
• Positive momentum expected in 2022 due to economic recovery and strong loan pipeline.

Negative

• None.

UNIONDALE, N.Y., Feb. 23, 2022 (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, an increase of $0.01 per share from the prior quarter’s dividend, payable on March 25, 2022 to shareholders of record at the close of business on March 11, 2022.

John R. Buran, the Company’s President and Chief Executive Officer, stated: “The quarterly dividend increase to $0.22 per share reflects our record earnings in 2021 and momentum in 2022. The economic recovery, market disruption from recent mergers, and a strong loan pipeline should continue to drive growth in 2022. We remain committed to enhancing shareholder returns and executing on our strategic objectives.”  

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.

“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 FlushingBank.com.

#FF

CONTACT:

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

FAQ

What is the new dividend amount for Flushing Financial Corporation (FFIC)?

The new dividend amount is $0.22 per common share.

When will the dividend for FFIC be paid?

The dividend will be paid on March 25, 2022.

What is the record date for the dividend of Flushing Financial Corporation?

The record date for the dividend is March 11, 2022.

Why did FFIC increase its dividend?

The increase is attributed to record earnings in 2021 and ongoing momentum into 2022.