NEW YORK - Amalgamated Financial Corp. (NASDAQ:AMAL), the holding company for Amalgamated Bank (NASDAQ:AMAL), has declared a regular quarterly dividend for its common stockholders. The announced dividend is $0.10 per share, payable on February 23, 2024, to shareholders of record as of February 6, 2024.
The bank, which prides itself on its commitment to values-based banking and corporate social responsibility, is a certified B Corporation and a member of the Global Alliance for Banking on Values. With a history dating back to 1923 and origins tied to the Amalgamated Clothing Workers of America, Amalgamated Bank now operates a network of five branches across key cities including New York City, Washington D.C., and San Francisco, and has a commercial office in Boston.
As of September 30, 2023, Amalgamated Financial Corp. reported total assets of $7.9 billion, with net loans totaling $4.3 billion and deposits amounting to $7.0 billion. The trust business of the corporation held assets under custody of $39.6 billion and assets under management of $13.9 billion.
The declaration of dividends is a practice that is subject to the discretion of the company's Board of Directors. The board reviews the company's financial position and profitability to determine the feasibility and appropriateness of issuing dividends to its stockholders.
This announcement is based on a press release statement from Amalgamated Financial Corp.
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