Provident Financial Services (PFS) Declares $0.20 Quarterly Dividend; 3% Yield

Provident Financial Services (NYSE: PFS) declared a quarterly dividend of $0.20 per share, or $0.8 annualized.

The dividend will be payable on May 31, 2018, to stockholders of record on May 15, 2018, with an ex-dividend date of May 14, 2018.

The annual yield on the dividend is 3 percent.

Christopher Martin, Chairman, President and Chief Executive Officer commented: “Following record originations in the trailing quarter, our average loans outstanding grew by 9.4%, annualized during the first quarter. Although we experienced a net decrease in loans at period end, overall first quarter originations were 22% better than the prior year’s first quarter, and the pipeline improved as to both rate and volume.” Martin continued: “Our net interest margin expanded 5 basis points from the previous quarter which resulted in record quarterly revenue, efficiency and earnings. While we saw some deterioration in selected loans, overall credit metrics remained favorable.”

For a dividend history and other dividend-related data on Provident Financial Services (PFS) click here.

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