ALAMOGORDO, N.M., Nov. 19, 2019 /PRNewswire/ -- Bancorp 34,
Inc. ("Bancorp 34") (NASDAQ: BCTF), the holding company for Bank
34, announced that its Board of Directors approved a quarterly cash
dividend of $0.05 per share of common
stock, payable on December 27, 2019
to shareholders of record as of the close of business on
December 13, 2019.
This will be Bancorp 34's fourth dividend since completing its
mutual-to-stock conversion and related stock offering in October
2016. A special dividend of $1.25 per share was paid on May 9, 2018, and quarterly dividends of
$0.05 per share were paid on
June 18, 2019 and September 25, 2019. Future declarations of
dividends are subject to the determination and discretion of
Bancorp 34's Board of Directors.
Jill Gutierrez, President and
Chief Executive Officer of Bancorp 34, stated "The quarterly
dividend program demonstrates confidence in our long-term financial
prospects and our commitment to enhance shareholder value, while
retaining enough operating earnings to invest in our business and
maintain our strong capital position. It also reflects our
continued efforts to actively manage our capital while maintaining
capacity to support organic growth and ongoing operations."
Forward-Looking Statements
Certain statements herein constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements may be identified by words such as
"believes," "will," "expects," "project," "may," "could,"
"developments," "strategic," "launching," "opportunities,"
"anticipates," "estimates," "intends," "plans," "targets" and
similar expressions. These statements are based upon the current
beliefs and expectations of Bancorp 34's management and are subject
to significant risks and uncertainties. Actual results may differ
materially from those set forth in the forward-looking statements
as a result of numerous factors. Factors that could cause such
differences to exist include, but are not limited to, general
economic conditions, changes in interest rates, regulatory
considerations, competition and the other risks described in the
Company's Annual Report on Form 10-K and Quarterly Reports on Form
10-Q as filed with the Securities and Exchange Commission. Should
one or more of these risks materialize or should underlying beliefs
or assumptions prove incorrect, Bancorp 34's actual results could
differ materially from those discussed. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date of this release. Forward-looking
statements speak only as of the date they are made, and we assume
no obligation to update any of these statements in light of new
information, future events or otherwise unless required under
federal securities laws.
Contact: Jan R. Thiry
EVP/Chief Financial Officer
623.777.0570
j.thiry@bank34.com
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SOURCE Bancorp 34, Inc.