JOHNSTOWN, Pa., Oct. 17, 2014 /PRNewswire/ -- AmeriServ
Financial, Inc. (NASDAQ: ASRV) announced that its Board of
Directors declared a $0.01 per share
quarterly common stock cash dividend. The cash dividend is
payable November 17, 2014 to
shareholders of record on November 3,
2014. This cash dividend represents a 1.3% annualized yield
using the October 16, 2014 closing
common stock price of $3.05.
For the first nine months of 2014, the Company's dividend payout
ratio has approximated 27%.
AmeriServ Financial, Inc. is the parent of AmeriServ Financial
Bank and AmeriServ Trust and Financial Services Company in
Johnstown. The Company's subsidiaries provide full-service
banking and trust and wealth management services through seventeen
community offices in southwestern Pennsylvania. At September 30, 2014, AmeriServ had total assets of
$1.07 billion, a book value of
$5.06 per common share and a tangible
book value of $4.43 per common
share.
Forward-Looking Statements
This news release contains forward-looking statements as defined
in the Securities Exchange Act of 1934 and is subject to the safe
harbors created therein. The forward-looking statements contained
herein include, but are not limited to, information regarding the
AmeriServ's dividend program and future payment obligations. These
forward-looking statements involve risks and uncertainties that
could cause AmeriServ's results to differ materially from
management's current expectations. Such risks and uncertainties are
detailed in AmeriServ's filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the year
ended December 31, 2013.
Forward-looking statements are based on the beliefs and assumptions
of AmeriServ's management and on currently available information.
The statements in this press release are made as of the date of
this press release, even if subsequently made available by
AmeriServ on its website or otherwise. AmeriServ undertakes no
responsibility to publicly update or revise any forward-looking
statement.
SOURCE AmeriServ Financial, Inc.