NorthEast Community Bancorp, Inc. Announces Quarterly Cash Dividend
NorthEast Community Bancorp, Inc. (Nasdaq: NECB) has announced a quarterly cash dividend of $0.06 per common share, payable on February 6, 2023, to shareholders on record as of January 3, 2023. The company operates eleven branches across New York and Massachusetts under NorthEast Community Bank. This dividend declaration indicates the company's commitment to returning value to its shareholders amidst the challenging economic environment, characterized by uncertainties due to the COVID-19 pandemic and market conditions.
- Quarterly cash dividend of $0.06 per share reflects company confidence and commitment to shareholders.
- Risks associated with market interest rate fluctuations could adversely affect financial performance.
- Potential impact of the COVID-19 pandemic on credit quality and loan repayment ability.
WHITE PLAINS, N.Y., Dec. 15, 2022 (GLOBE NEWSWIRE) -- NorthEast Community Bancorp, Inc. (the “Company”) (Nasdaq: NECB) announced today that its Board of Directors has declared a quarterly cash dividend of
About NorthEast Community Bancorp, Inc.
The Company is the holding company for NorthEast Community Bank. NorthEast Community Bank is a New York State chartered savings bank that operates eight full-service branches in New York and three full-service branches in Massachusetts and loan production offices in White Plains and New City, New York.
Cautionary Note About Forward-Looking Statements
This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as “believe,” “expect,” “anticipate,” “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include, but are not limited to, changes in market interest rates, regional and national economic conditions, the effect of the COVID-19 pandemic (including its impact on NorthEast Community Bank’s business operations and credit quality, on our customers and their ability to repay their loan obligations and on general economic and financial market conditions), legislative and regulatory changes, monetary and fiscal policies of the United States government, including policies of the United States Treasury and the Federal Reserve Board, the quality and composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in NorthEast Community Bank’s market area, changes in the real estate market values in NorthEast Community Bank’s market area and changes in relevant accounting principles and guidelines. These risks and uncertainties should be considered in evaluating any forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events.
| CONTACT: | Kenneth A. Martinek |
| Chairman and Chief Executive Officer | |
| PHONE: | (914) 684-2500 |
FAQ
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