HomeStreet (HMST) Raises Quarterly Dividend 40% to $0.35; Announces $75 Million Expansion of Our Share Repurchase Program

January 28, 2022 6:15 AM EST

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HomeStreet (NASDAQ: HMST) declared a quarterly dividend of $0.35 per share, or $1.4 annualized. This is a 40% increase from the prior dividend of $0.25.

The dividend will be payable on February 23, 2022, to stockholders of record on February 9, 2022, with an ex-dividend date of February 8, 2022.

The annual yield on the dividend is 3 percent.

The Company will utilize proceeds from its $100 million subordinated note offering completed on January 19, 2022 to fund the approved expansion of our share repurchase program allows for the additional repurchase of up to $75 million in aggregate amount of shares of the Company’s common stock. Under this program, the Company may repurchase shares from time to time in the open market, in privately negotiated stock purchases or pursuant to any trading plan that may be adopted in accordance with Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and applicable federal securities laws. The share repurchase plan does not obligate the Company to acquire any particular amount of common stock, and it may be terminated, modified or suspended at any time at the Company's discretion.

For a dividend history and other dividend-related data on HomeStreet (HMST) click here.

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