PEOPLES FINANCIAL SERVICES CORP. Declares Second Quarter 2021 Dividend

Rhea-AI Summary

Peoples Financial Services Corp. (NASDAQ: PFIS) has announced a second quarter dividend of $0.37 per share, maintaining the previous quarter's amount and representing a 2.8% increase from the same quarter in 2020. This dividend is payable on June 15, 2021, to shareholders on record as of May 31, 2021. The company operates through Peoples Security Bank and Trust Company, serving communities across Pennsylvania and New York with a range of financial products and services.

Positive

• Second quarter dividend of $0.37 per share, consistent with the previous quarter.
• 2.8% increase in dividend compared to Q2 2020, indicating confidence.

Negative

• None.

SCRANTON, Pa., April 30, 2021 /PRNewswire/ -- The Board of Directors of Peoples Financial Services Corp. (NASDAQ: PFIS) declared a second quarter dividend of $0.37 per share.  The $0.37 equals the per share dividend declared in the prior quarter and represents a 2.8% increase over the dividend declared in the second quarter of 2020.  The dividend is payable June 15, 2021 to shareholders of record May 31, 2021.

Peoples Financial Services Corp. (the "Company") is the parent company of Peoples Security Bank and Trust Company (the "Bank"), an independent community bank serving its retail and commercial customers through twenty-six full-service community banking offices located within the Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Susquehanna, and Wyoming Counties in Pennsylvania and Broome County in New York. Each office, interdependent with the community, offers a comprehensive array of financial products and services to individuals, businesses, not-for-profit organizations and government entities. The Company's business philosophy includes offering direct access to senior management and other officers and providing friendly, informed and courteous service, local and timely.

Safe Harbor Forward-Looking Statements:  

We make statements in this press release, and we may from time to time make other statements regarding our outlook or expectations for future financial or operating results and/or other matters regarding or affecting Peoples Financial Services Corp., Peoples Security Bank and Trust Company, and its subsidiaries (collectively, "Peoples") that are considered "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements may be identified by the use of such words as "believe," "expect," "anticipate," "should," "planned," "estimated," "intend" and "potential." For these statements, Peoples claims the protection of the statutory safe harbors for forward-looking statements. 

Peoples cautions you that a number of important factors could cause actual results to differ materially from those currently anticipated in any forward-looking statement. Such factors include, but are not limited to: prevailing economic and political conditions, particularly in our market area; the unfolding COVID-19 crisis and the governmental responses to the crisis: credit risk associated with our lending activities; changes in interest rates, loan demand, real estate values and competition; changes in accounting principles, policies, and guidelines; changes in any applicable law, rule, regulation or practice with respect to tax or legal issues; our ability to identify and address cyber-security risks and other economic, competitive, governmental, regulatory and technological factors affecting Peoples' operations, pricing, products and services and other factors that may be described in Peoples' Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission from time to time.  

In addition to these risks, acquisitions and business combinations, present risks other than those presented by the nature of the business acquired. Acquisitions and business combinations may be substantially more expensive to complete than originally anticipated, and the anticipated benefits may be significantly harder-or take longer-to achieve than expected. As regulated financial institutions, our pursuit of attractive acquisition and business combination opportunities could be negatively impacted by regulatory delays or other regulatory issues. Regulatory and/or legal issues related to the pre-acquisition operations of an acquired or combined business may cause reputational harm to Peoples following the acquisition or combination, and integration of the acquired or combined business with ours may result in additional future costs arising as a result of those issues. 

The forward-looking statements are made as of the date of this release, and, except as may be required by applicable law or regulation, Peoples assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. 

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SOURCE Peoples Financial Services Corp.

FAQ

What is the dividend amount declared by Peoples Financial Services Corp. for Q2 2021?

The declared dividend amount is $0.37 per share.

When will the dividend for Q2 2021 be paid?

The dividend will be payable on June 15, 2021.

What is the record date for the Q2 2021 dividend?

The record date for the dividend is May 31, 2021.

How does the Q2 2021 dividend compare to Q2 2020?

The Q2 2021 dividend of $0.37 per share is a 2.8% increase over the dividend declared in Q2 2020.

What does the dividend announcement indicate about the company?

The consistent dividend payment and increase suggest a positive outlook and financial stability for Peoples Financial Services Corp.