First Commonwealth Financial (FCF) Raises Quarterly Dividend 12.5% to $0.09; 2.4% Yield

First Commonwealth Financial (NYSE: FCF) declared a quarterly dividend of $0.09 per share, or $0.36 annualized. This is a 12.5% increase from the prior dividend of $0.08.

The dividend will be payable on May 18, 2018, to stockholders of record on May 4, 2018, with an ex-dividend date of May 3, 2018.

The annual yield on the dividend is 2.4 percent.

“I am pleased with our results this quarter and our outlook for 2018. This was another quarter of record earnings, and earnings per share growth was 33% year-over-year. Furthermore, our core efficiency ratio, return on average assets and net interest margin continue to improve, and we increased our dividend,” stated T. Michael Price, President and Chief Executive Officer. “Although we did set aside reserves for two commercial credits, the work we’ve done over the past several years to manage down our loan size limits and portfolio concentrations has limited the financial impact stemming from the strain these two commercial borrowers experienced during the quarter.” Price continued, “I am confident that the groundwork we have laid and the expansion plans currently underway in new markets will continue to propel First Commonwealth toward becoming one of the top performing banks in the country.”

For a dividend history and other dividend-related data on First Commonwealth Financial (FCF) click here.

You May Also Be Interested In

• Atmus Filtration Technologies (ATMU) Raises Quarterly Dividend 9.1% to $0.06; 0.5% Yield
• Newmarket (NEU) Declares $3.00 Quarterly Dividend; 1.3% Yield
• First Industrial Realty (FR) Declares $0.50 Quarterly Dividend; 3.2% Yield