Territorial Bancorp (TBNK) Declares $0.50 Special Dividend; 1.6% Yield

Territorial Bancorp (NASDAQ: TBNK) declared a special dividend of $0.50 per share.

The dividend will be payable on December 18, 2019, to stockholders of record on December 4, 2019, with an ex-dividend date of December 3, 2019.

The annual yield on the dividend is 1.6 percent.

Allan Kitagawa, Chairman and Chief Executive Officer, said, “We are pleased to announce a special dividend of $0.50 per share. As you know, we have had some one-time gains this year that put us ahead of the earnings we had for the first 3 quarters of 2018. We believe our capital levels are sufficient to permit us to declare our second special dividend for the year while still allowing us to execute our business plan. We will also continue our stock repurchase plan at a price that makes financial sense for our shareholders. Our Board of Directors will continue evaluating all avenues to enhance long-term shareholder returns. Including this special dividend and other dividends paid in 2019, stock purchased in our initial public offering at $10.00 per share will earn dividends equal to 14.9% of their initial investment in Territorial Bancorp Inc.”

For a dividend history and other dividend-related data on Territorial Bancorp (TBNK) click here.

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