Amalgamated Financial Corp. Announces Regular Quarterly Dividend
Amalgamated Financial Corp. (“Amalgamated” or the “Company”) (Nasdaq: AMAL) has declared its latest quarterly dividend for common stockholders. The Board of Directors has approved a dividend of $0.12 per share. This dividend is scheduled to be payable to stockholders on November 21, with the record date set for November 5. The Company emphasizes that future dividends will be determined at the discretion of the Board, reflecting the Company's ongoing commitment to maintaining strong shareholder returns.
About Amalgamated Financial Corp.
Amalgamated Financial Corp. operates as a bank holding company based in Delaware and is committed to providing commercial banking and financial services through its wholly-owned subsidiary, Amalgamated Bank. Established in 1923, Amalgamated Bank serves as a full-service commercial bank and chartered trust company, with a network of five branches strategically located in urban centers, including New York City, Washington D.C., and San Francisco, complemented by offices in Boston.
Historical Background
Originally formed as Amalgamated Bank of New York by the Amalgamated Clothing Workers of America, one of the nation’s premier labor unions, Amalgamated Bank has maintained its legacy of social responsibility and commitment to community banking. The bank has expanded its reach and continues to provide essential banking services, ensuring the needs of both commercial and retail customers are met with professionalism and integrity.
Financial Overview
As of mid-year, Amalgamated reported total assets amounting to $8.3 billion, with net loans totaling $4.4 billion and total deposits reaching $7.4 billion. These numbers signify a robust financial standing, indicative of Amalgamated's ability to effectively manage its capital and resources. In addition, the trust business under management has impressively grown to hold $34.6 billion in assets, alongside $14.0 billion in assets under custody.
Commitment to Values
Amalgamated Bank is distinguished as a proud member of the Global Alliance for Banking on Values, emphasizing its commitment to social, economic, and environmental sustainability. The bank is also recognized as a certified B Corporation, denoting its dedication to high social and environmental performance, accountability, and transparency. This designation illustrates Amalgamated's mission not just to thrive financially, but to create a meaningful impact in the communities it serves.
Investor Relations and Contact Information
For inquiries and further details about achievements or financial results, Jamie Lillis is available through Solebury Strategic Communications at Amalgamated Bank. Interested parties can reach out via email at shareholderrelations@amalgamatedbank.com or by phone at 800-895-4172. The company is dedicated to engaging constructively with its shareholders and stakeholders, further enhancing transparency and communication.
Frequently Asked Questions
What is the declared dividend amount for Amalgamated Financial Corp.?
The Board declared a quarterly dividend of $0.12 per share for common stockholders.
When will the dividend be payable?
The dividend is scheduled to be payable on November 21 to shareholders on record as of November 5.
What services does Amalgamated Bank offer?
Amalgamated Bank offers a wide range of commercial banking and trust services tailored for both commercial and retail customers.
How large are Amalgamated's total assets?
As of June 30, the total assets were reported at $8.3 billion, reflecting a solid financial position.
What distinguishes Amalgamated Bank in the banking sector?
Amalgamated Bank is recognized for its commitment to social values and sustainability, being a certified B Corporation and a member of the Global Alliance for Banking on Values.
