UPDATE: Pacific City Financial Corporation (PCB) Raises Quarterly Dividend 20% to $0.06; 1.3% Yield

Pacific City Financial Corporation (NASDAQ: PCB) declared a quarterly dividend of $0.06 per share, or $0.24 annualized. This is a 20% increase from the prior dividend of $0.05.

The dividend will be payable on June 14, 2019, to stockholders of record on May 31, 2019, with an ex-dividend date of May 30, 2019.

The annual yield on the dividend is 1.3 percent.

“I am pleased with another strong financial performance for the quarter that is highlighted by earnings of $6.6 million, or $0.40 per diluted common share. I am also pleased with board’s declaration of quarterly cash dividend of $0.06 per common share, or an increase of 20% from first quarter cash dividend of $0.05, that will be paid in June,” stated Henry Kim, President and Chief Executive Officer. “Although our loan and deposit growth moderated during the quarter, we maintained net interest margin of 4.22% and efficiency ratio of 52.60%. Since the tail end of the first quarter, we are experiencing an increase in loan demand and stabilization in deposit costs, which lead us to be optimistic on our ability to deliver a continued strong financial performance for the remainder of 2019.”

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

You May Also Be Interested In

• JPMorgan Upgrades Aviva Plc (AV/:LN) (AIVAF) to Overweight
• Pinnacle Bankshares Corp (PPBN) Declares $0.33 Quarterly Dividend; 1.9% Yield
• WhiteHawk Minerals posts Q2 results, declares dividend, signs $111.8M deals