First Commonwealth Financial (FCF) Declares $0.06 Quarterly Dividend, 1.6% Yield; Aurthorizes New $25M Share Buyback

First Commonwealth Financial (NYSE: FCF) declared a quarterly dividend of $0.06 per share, or $0.24 annualized.

The dividend will be payable on November 16, 2018, to stockholders of record on November 2, 2018, with an ex-dividend date of November 1, 2018.

The annual yield on the dividend is 1.6 percent.

“We continue to position ourselves for long-term success and I am pleased with the outcome this quarter,” stated T. Michael Price, President and Chief Executive Officer. “Although somewhat muted by large pay downs, our new loan production this quarter was running at its highest level in several years and our locally sourced core deposit base continues to prove to be a stable source of low-cost funding. We also remained disciplined in managing our operating expenses while investing in our new geographies and business lines, including our digital delivery platform.” Price continued, “And as a community bank, we are also committed to our communities. I am proud of the many ways our employees display this commitment, day in and day out, by helping to improve the lives of our neighbors and their businesses.”

BUYBACK

The company also announced today that its Board of Directors has authorized a new $25 million share repurchase program of the company's common stock. Under this program, management is authorized to repurchase shares through Rule 10b5-1 plans, open market purchases, privately negotiated transactions, block purchases or otherwise in a manner that is intended to comply with applicable federal securities laws, including Rule 10b-18 of the Securities Exchange Act of 1934. First Commonwealth may suspend or discontinue the program at any time.

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

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