Flushing Financial Corporation Announces 1 Million Increase in Share Repurchase Authorization; Declares Quarterly Dividend of $0.22 per Share
2022年5月18日 - 6:30AM
Flushing Financial Corporation (the “Company”) (Nasdaq-GS: FFIC),
the parent holding company for Flushing Bank (the “Bank”), today
announced that the Board of Directors (the “Board”) has authorized
an increase in the purchase of its common stock by 1,000,000
shares. Stock can be purchased from time to time, in the open
market or through private transactions, subject to market
conditions. There is no expiration or maximum dollar amount under
this authorization. From April 1, 2022 through May 10, 2022, the
Company repurchased 147,307 shares at an average price of $21.83
and has 340,880 shares remaining under its previous authorization.
The combined remaining authorization is 1.3 million shares.
Additionally, the Board declared a quarterly
dividend on its common stock of $0.22 per common share, payable on
June 24, 2022 to shareholders of record at the close of business on
June 3, 2022.
John R. Buran, the Company’s President and Chief
Executive Officer, stated: “The Board of Directors authorized an
increase of 1 million shares to our current repurchase program.
With our history of a low risk business model, low loan to values
for our real estate loans, and strong credit metrics, we are
confident in our ability to support an increased stock repurchase
program. This quarter’s dividend marks the 103rd consecutive
quarterly dividend. The increase in the share repurchase
authorization and the quarterly dividend payment, highlights our
commitment to shareholders while supporting and investing in the
franchise over the short and long term. An improving local economy,
in-market merger disruption, and a record loan pipeline should
translate into improved growth in 2022.”
FLUSHING FINANCIAL CORPORATION (Nasdaq: FFIC) is
the holding company for Flushing Bank®, an FDIC insured, New York
State—chartered commercial bank that operates banking offices in
Queens, Brooklyn, Manhattan, and on Long Island. The Bank has been
building relationships with families, business owners, and
communities since 1929. Today, it offers the products, services,
and conveniences associated with large commercial banks, including
a full complement of deposit, loan, equipment finance, and cash
management services. Rewarding customers with personalized
attention and bankers that can communicate in the languages
prevalent within these multicultural markets is what makes the Bank
uniquely different. As an Equal Housing Lender and leader in real
estate lending, the Bank’s experienced lending teams create
mortgage solutions for real estate owners and property managers
both within and outside the New York City metropolitan area. The
Bank also fosters relationships with consumers nationwide through
its online banking division with the iGObanking® and BankPurely®
brands.
“Safe Harbor” Statement under the Private
Securities Litigation Reform Act of 1995: Statements in this Press
Release relating to plans, strategies, economic performance and
trends, projections of results of specific activities or
investments and other statements that are not descriptions of
historical facts may be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking information is
inherently subject to risks and uncertainties, and actual results
could differ materially from those currently anticipated due to a
number of factors, which include, but are not limited to, risk
factors discussed in the Company’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2021 and in other documents
filed by the Company with the Securities and Exchange Commission
from time to time. Forward-looking statements may be identified by
terms such as “may”, “will”, “should”, “could”, “expects”, “plans”,
“intends”, “anticipates”, “believes”, “estimates”, “predicts”,
“forecasts”, “goals”, “potential” or “continue” or similar terms or
the negative of these terms. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee future results, levels of activity,
performance or achievements. The Company has no obligation to
update these forward-looking statements.
Additional information on Flushing Financial
Corporation may be obtained by visiting the Company’s web site at
FlushingBank.com.
#FF
CONTACT:
Susan K. CullenSenior Executive Vice President
andChief Financial OfficerFlushing Financial Corporation(718)
961-5400
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