VANCOUVER, Wash., Dec. 19, 2007 (PRIME NEWSWIRE) -- Riverview Bancorp (Nasdaq:RVSB) today announced that its Board of Directors declared a quarterly cash dividend of $0.11 per share. The dividend will be paid on January 15, 2008, to shareholders of record December 31, 2007. This is the 41st consecutive quarterly cash dividend and represents an annualized yield of 3.39% based on the recent price.
In October, Riverview reported net income in the second fiscal quarter of 2008 was $2.4 million, or $0.22 per diluted share, compared to $3.0 million, or $0.26 per diluted share in the second quarter of fiscal 2007. For the first six months of fiscal 2008 net income was $5.3 million, or $0.47 per diluted share, compared to $5.6 million, or $0.49 per diluted share, in the fist six months of fiscal 2007.
The company plans to report third fiscal quarter 2008 results after the market closes on January 22, 2008.
Riverview Bancorp, Inc. (www.riverviewbank.com) is headquartered in Vancouver, Washington -- just north of Portland, Oregon on the I-5 corridor. With assets of $821 million, it is the parent company of the 84 year-old Riverview Community Bank, as well as Riverview Mortgage and Riverview Asset Management Corp. There are 18 branches, including ten in fast growing Clark County, three in the Portland metropolitan area and three lending centers. The Bank offers true community banking services, focusing on providing the highest quality service and financial products to commercial and retail customers.