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Meridian Bancorp, Inc. declares cash dividend.

BOSTON: Meridian Bancorp, Inc. declared a quarterly cash dividend of $0.07 per common share, an increase of $0.02 per common share or 40%.

Meridian Bancorp, Inc. is the holding company for East Boston Savings Bank. Meridian Bancorp, Inc. is the holding company for East Boston Savings Bank. East Boston Savings Bank, a Massachusetts-chartered stock savings bank founded in 1848, operates 36 full-service locations in the greater Boston metropolitan area. We offer a variety of deposit and loan products to individuals and businesses located in our primary market, which consists of Essex, Middlesex, Norfolk and Suffolk Counties, Massachusetts. For additional information, visit www.ebsb.com.

It is payable on January 2, 2019 to stockholders of record at the close of business on December 18, 2018. Richard J. Gavegnano, Chairman, President and Chief Executive Officer of the Company, said, "Our Board of Directors approved this 40% increase in our quarterly dividend in recognition of our rising earnings trends driven by continued growth in net interest income, strong asset quality and prudent expense management as enhanced this year by a lower federal income tax rate."

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Geographic Code:1U1MA
Date:Nov 29, 2018
Words:184
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