Peapack-Gladstone Financial (PGC) Declares $0.05 Quarterly Dividend; 0.6% Yield
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Peapack-Gladstone Financial Corporation Reports a Strong First Quarter and Declares Its Quarterly Cash Dividend
April 25, 2017 9:02 AM EDTBEDMINSTER, NJ -- (Marketwired) -- 04/25/17 -- Peapack-Gladstone Financial Corporation (NASDAQ: PGC) (the "Company") recorded record net income of $7.98 million and diluted earnings per share of $0.46 for the quarter ended March 31, 2017, compared to $5.49 million and $0.34, respectively, for the quarter ended March 31, 2016, reflecting increases of $2.49 million, or 45 percent, and $0.12 per share, or 35 percent, respectively.
The 2017 quarter included a $662 thousand benefit to income tax expense related to the adoption of ASU 2016-09, Compensation - Stock Compensation, improvements to employee share-based payment accounting. This increased net income by $662 thousand and earnings per share by 4 cents. Additionally, the 2017... More
