Flushing Financial Corporation's Board of Directors declared a quarterly dividend of $0.22 per common share, payable on December 20, 2024, to shareholders of record on December 6, 2024. This marks the 114th consecutive quarterly dividend payment by the company.
John R. Buran, President and CEO, stated that the Net Interest Margin (NIM) bottomed in July and is expected to continue its upward trend over time. This projection is based on anticipated Federal Reserve rate cuts and a return to a more normal positive yield curve.
Buran also highlighted the company's 2024 priorities, which include increasing NIM and reducing volatility, maintaining credit discipline, preserving strong liquidity and capital, and bending the expense curve. These strategic areas are intended to set the stage for improved financial performance over the long term.
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