HONOLULU, May 1, 2014 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (Nasdaq:TBNK) (the "Company"), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announces that its Board of Directors has approved an increase in the quarterly cash dividend on its common stock from $0.14 to $0.15 per share. The dividend is expected to be paid on May 29, 2014 to stockholders of record as of May 15, 2014.
Allan Kitagawa, Chairman and Chief Executive Officer, said "We continue to focus on improving long-term shareholder returns and the effective utilization of our capital. We completed our fifth stock repurchase program in February 2014 and increased our dividend to $0.15 from $0.14 per share of common stock. As a result, we returned 151% of our first quarter's net income back to shareholders in the form of dividends and share repurchases."
Forward-looking statements - this press release contains forward-looking statements, which can be identified by the use of words such as "estimate," "project," "believe," "intend," "anticipate," "plan," "seek," "expect," "will," "may" and words of similar meaning. These forward-looking statements include, but are not limited to:
These forward-looking statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. We are under no duty to and do not take any obligation to update any forward-looking statements after the date of this release.
The following factors, among others, could cause actual results to differ materially from the anticipated results or other expectations expressed in the forward-looking statements:
Because of these and a wide variety of other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements.
Walter Ida (808) 946-1400