Flushing Financial (FFIC) Raises Quarterly Dividend 11.1% to $0.20, 3% Yield; Announces 1M Share Buyback

Flushing Financial (NASDAQ: FFIC) declared a quarterly dividend of $0.20 per share, or $0.8 annualized. This is an 11.1% increase from the prior dividend of $0.18.

The dividend will be payable on March 20, 2018, to stockholders of record on March 9, 2018, with an ex-dividend date of March 8, 2018.

The annual yield on the dividend is 3 percent.

The Board of Directors has authorized the purchase of up to 1,000,000 shares of its common stock.

John R. Buran, Flushing Financial’s President and Chief Executive Officer, stated: “Our strong financial performance and capital position, as well as our confidence in the opportunities for future growth, underlie our belief that our shares are a good value in today’s marketplace and that the repurchase of our shares represents an attractive investment opportunity that will benefit the Company and our shareholders. While the timing and amount of future share repurchases will depend on market conditions and the attractiveness of alternative capital investments, this action confirms a continuing commitment to utilize share repurchases as one approach for enhancing shareholder value. In addition to the share repurchase, as we strive to enhance our continuing efforts to increase total shareholder return, the Board approved an 11% increase of the dividend. The Board will continue to review further dividend payments on a quarterly basis.”

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

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