Rockville Financial, Inc., the holding company for Rockville Bank, announced on Wednesday that its board of directors has declared another consecutive quarterly cash dividend on the company’s common stock of 10 cents per share to shareholders of record at the close of business on Feb. 3 and payable on Feb. 10.
The Company has now paid dividends for 31 consecutive quarters.
Shareholders have seen a 54 percent increase in the dividend since the Bank’s conversion in 2011. The dividend equates to a 2.91 percent annualized yield based on the $13.76 average closing price of the company’s common stock in the fourth quarter of 2013, bank officials said.
“Our board of directors understands that dividends are an important part of our capital management strategy and we are pleased the company will be paying a dividend to shareholders of record for the 31st consecutive quarter,” said William H.W. Crawford, IV, president and CEO of Rockville Bank and Rockville Financial Inc.
Rockville Financial expects to release financial results for the fourth quarter ended Dec. 31 on Monday, Jan. 27 after 4 p.m.
THe bank recently announced a merger with United Bank.