OceanFirst Financial Corp. Declares Quarterly Cash Dividend for Series A Preferred Stock

Rhea-AI Summary

OceanFirst Financial Corp. (NASDAQ: OCFC) announced a quarterly cash dividend of $0.4764 per share for its Series A Preferred Stock. The dividend is set to be paid on August 17, 2020, to stockholders on record as of July 31, 2020. OceanFirst Bank, a subsidiary founded in 1902, operates as a significant regional bank with assets totaling $11.3 billion across New Jersey and metropolitan areas in Philadelphia and New York City. The bank provides commercial and residential financing solutions, with a strong presence in asset management and deposit services.

Positive

• Quarterly cash dividend of $0.4764 per share enhances shareholder income.
• Strong financial position with $11.3 billion in assets.

Negative

• None.

RED BANK, N.J., July 24, 2020 (GLOBE NEWSWIRE) -- OceanFirst Financial Corp. (NASDAQ:“OCFC”), (the “Company”), announced that its Board of Directors has declared a quarterly cash dividend of 0.4764 per share for every depository share, representing 1/40th interest in the Series A Preferred Stock, payable on August 17, 2020 to stockholders of record on July 31, 2020.

OceanFirst Financial Corp.’s subsidiary, OceanFirst Bank N.A., founded in 1902, is a $11.3 billion regional bank operating throughout New Jersey, metropolitan Philadelphia and metropolitan New York City.  OceanFirst Bank delivers commercial and residential financing solutions, trust and asset management and deposit services and is one of the largest and oldest community-based financial institutions headquartered in New Jersey.

OceanFirst Financial Corp.’s press releases are available by visiting us at www.oceanfirst.com.

Company Contact:

Michael J. Fitzpatrick
Chief Financial Officer
OceanFirst Financial Corp.
Tel:  (732) 240-4500, ext. 7506
Email: Mfitzpatrick@oceanfirst.com

FAQ

What is the dividend amount declared by OceanFirst Financial Corp. (OCFC)?

The declared dividend amount is $0.4764 per share.

When is the dividend payable for OceanFirst Financial Corp. (OCFC)?

The dividend is payable on August 17, 2020.

What is the record date for OceanFirst Financial Corp.'s (OCFC) dividend?

The record date for the dividend is July 31, 2020.

How often does OceanFirst Financial Corp. (OCFC) pay dividends?

OceanFirst Financial Corp. typically pays dividends quarterly.

Is the dividend declared by OceanFirst Financial Corp. (OCFC) sustainable?

The sustainability of the dividend depends on the company's ongoing financial performance.