PCSB Financial Corporation (PCSB) Raises Quarterly Dividend 33.3% to $0.04; 0.2% Yield

PCSB Financial Corporation (NASDAQ: PCSB) declared a quarterly dividend of $0.04 per share. This is a 33.3% increase from the prior dividend of $0.03.

The dividend will be payable on May 31, 2019, to stockholders of record on May 17, 2019, with an ex-dividend date of May 16, 2019.

The annual yield on the dividend is 0.2 percent.

Commenting on the Company’s results, Joseph Roberto, Chairman, President and Chief Executive Officer of PCSB Financial Corporation, said, “I am pleased to report continued progress in our second year as a public company. Year-to-date non-GAAP net income improved by 20.6% over the year ago period, supported by a nearly 10% increase in the average balance of loans for the same period. Asset quality remains strong as the ratio of non-performing assets to total assets decreased to 0.23% at March 31, 2019 from 0.27% at December 31, 2018, and decreased by more than half from 0.50% a year ago. During the third fiscal quarter, we also completed our first share repurchase program as part of our capital management program. As we continue to move forward in our third year as public company, we hope to build on these results as we strive to create value for our shareholders. I am also pleased to announce that our Board of Directors declared a quarterly cash dividend of $0.04 per share, representing a 33% increase over last quarter’s dividend.”

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

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