Oritani Financial (ORIT) Declares $0.50 Special Dividend; 3% Yield

Oritani Financial (NASDAQ: ORIT) declared a special dividend of $0.50 per share.

The dividend will be payable on December 18, 2015, to stockholders of record on December 4, 2015.

The annual yield on the dividend is 3 percent.

"As I have previously stated, Oritani desires to share its robust earnings with our stockholders," said Kevin J. Lynch, the Company's Chairman, President and CEO. "The gains we have realized on the dispositions of our joint venture portfolio have augmented our income and enabled us to award the largest special dividend in our history. The amount of this special dividend is based on the difference between our earnings and dividends for the twelve month period ended September 30, 2015." Mr. Lynch continued, "The Board will continue to weigh the merits of utilizing share repurchases versus special dividends as a method of returning excess earnings to stockholders. The exceptional income levels we generated over the past twelve months have enabled us to do both this period."

For a dividend history and other dividend-related data on Oritani Financial (ORIT) click here.

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