Provident Bancorp (PVBC) Initiates $0.03 Quarterly Dividend; 1.5% Yield

Provident Bancorp (NASDAQ: PVBC) initiates a quarterly dividend of $0.03 per share, or $0.12 annualized.

The dividend will be payable on May 14, 2020, to stockholders of record on April 30, 2020, with an ex-dividend date of April 29, 2020.

The annual yield on the dividend is 1.5 percent.

David Mansfield, Chief Executive Officer of the Company, stated “This dividend reflects our commitment to delivering stockholder value following the completion of our second-step conversion, and our continued belief in our company.”

In connection with the declaration of the dividend, the Company also announced that it has determined not to initiate a stock repurchase program at this time. Mr. Mansfield noted “While the initiation of a quarterly dividend reflects our continued efforts to actively manage our capital, we believe it is important to maintain ample protection during a period of financial difficulty and great uncertainty.”

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

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