ROCKVILLE, Conn., Oct. 16, 2013 (GLOBE NEWSWIRE) -- Rockville Financial, Inc. ("Rockville Financial" or the "Company") (Nasdaq:RCKB), the holding company for Rockville Bank (the "Bank"), today announced that its Board of Directors declared a cash dividend on the Company's common stock of $0.10 per share to shareholders of record at the close of business on October 28, 2013 and payable on November 4, 2013.
The Company has now paid dividends for 30 consecutive quarters. Shareholders have seen a 54% increase in the dividend since the Bank's conversion in 2011.
This dividend equates to a 3.04% annualized yield based on the $13.17 average closing price of the Company's common stock in the third quarter of 2013. The dividend payout ratio for the quarter ended September 30, 2013 was 57%.
"Our Board of Directors understands that dividends are an important part of our capital management strategy and are pleased the Company will be paying a dividend for the 30th consecutive quarter," said William H.W. Crawford, IV, President and CEO of Rockville Bank and Rockville Financial Inc.
Rockville Financial expects to release financial results for the third quarter ending September 30, 2013 on Thursday, October 24, 2013, after 4:00 pm Eastern Time (ET). Company leaders will hold their quarterly earnings conference call on Friday, October 25, at 10:00 am (ET). For more information, please visit the Company's website at www.rockvillefinancialinc.com.
About Rockville Financial, Inc.
Rockville Financial, Inc. is the parent of Rockville Bank, which is a 22-branch community bank serving Tolland, Hartford, New Haven and New London counties in Connecticut. Rockville Bank established a New Haven County Commercial Banking Office in Hamden, Conn., and recently opened a full-service Banking Center in West Hartford, Conn. For more information about Rockville Bank's services and products, call (860) 291-3600 or visit www.rockvillebank.com. For more information about Rockville Financial, Inc., visit www.rockvillefinancialinc.com.
Forward Looking Statements
This press release may contain certain forward-looking statements about the Company. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could," or "may". Forward-looking statements, by nature, are subject to risks and uncertainties. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within securities markets, and legislative and regulatory changes that could adversely affect the business in which the Company and its subsidiaries are engaged.