ROCKVILLE, Conn., Jan. 22, 2014 (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 another consecutive quarterly cash dividend on the Company's common stock of $0.10 per share to shareholders of record at the close of business on February 3, 2014 and payable on February 10, 2014.
The Company has now paid dividends for 31 consecutive quarters. Shareholders have seen a 54% increase in the dividend since the Bank's conversion in 2011. This dividend equates to a 2.91% annualized yield based on the $13.76 average closing price of the Company's common stock in the fourth quarter of 2013.
"Our Board of Directors understands that dividends are an important part of our capital management strategy and we are pleased the Company will be paying a dividend to shareholders of record for the 31st 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 fourth quarter ending December 31, 2013 on Monday, January 27, 2014, after 4:00 pm Eastern Time (ET). Company leaders will hold their quarterly earnings conference call on Tuesday, January 28, 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 Financial and United Financial Bancorp, Inc. (United Bank) of West Springfield, Massachusetts, announced a strategic merger of equals on November 15, 2013, still pending regulatory and shareholder approval. Rockville Bank recently opened a full-service banking branch in Hamden, Conn., and announced plans to open a retail branch North Haven, Conn., later this year. 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.
To download Rockville Financial, Inc.'s investor relations app on your iPhone, which offers access to SEC documents, press releases, videos, audiocasts and more, please visit: https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewSoftware?id=725271098&mt=8 or https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewSoftware?id=725271098&mt=8 for your iPad or https://play.google.com/store/apps/details?id=com.theirapp.rockville for your Android mobile device.
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.