Oritani Financial Corp. Announces $0.45 Special Dividend
22 November 2017 - 1:15AM
Oritani Financial Corp. (the “Company” or “Oritani”) (NASDAQ:ORIT),
the holding company for Oritani Bank (the “Bank”) announced that
its Board of Directors has declared a special cash dividend of
$0.45 per share on the Company’s common stock. The record
date for the dividend will be December 8, 2017 and the payment date
will be December 22, 2017.
“The Board of Directors of Oritani has elected
to continue its practice of declaring a special dividend to ensure
that stockholders fully participate in the earnings of the
Company,” said Kevin J. Lynch, the Company’s Chairman,
President and CEO. “The methodology for determining the
amount of this special dividend has not changed from prior years,
and it is based primarily on the difference between our earnings
and regular dividends for the twelve month period ended September
30, 2017.”
About the CompanyOritani
Financial Corp. is the holding company for Oritani Bank, a New
Jersey state chartered bank offering a full range of retail and
commercial loan and deposit products. Oritani Bank is
dedicated to providing exceptional personal service to its
individual and business customers. The Bank currently
operates its main office and 25 full service branches in the New
Jersey Counties of Bergen, Hudson, Essex and Passaic. For
additional information about Oritani Bank, please visit
www.oritani.com.
Forward Looking StatementsCertain statements
contained herein are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such
forward-looking statements may be identified by reference to a
future period or periods, or by the use of forward-looking
terminology, such as "may," "will,"
"believe," "expect," "estimate," "anticipate,"
"continue,” or similar terms or variations on those terms, or the
negative of those terms. Forward-looking statements are subject to
numerous risks and uncertainties, including those risk factors
disclosed in the Company’s Annual Report on Form 10-K for the year
ended June 30, 2017 and the following: those related to the
economic environment, particularly in the market areas in which the
Company operates, competitive products and pricing, fiscal and
monetary policies of the U.S. Government, changes in government
regulations affecting financial institutions, including regulatory
fees and capital requirements, changes in prevailing interest
rates, credit risk management, asset-liability management, the
financial and securities markets and the availability of and costs
associated with sources of liquidity.
The Company wishes to caution readers not to place undue
reliance on any such forward-looking statements, which speak only
as of the date made. The Company wishes to advise readers
that the factors listed above could affect the Company's financial
performance and could cause the Company's actual results for future
periods to differ materially from any opinions or statements
expressed with respect to future periods in any current
statements. The Company does not undertake and specifically
declines any obligation to publicly release the result of any
revisions, which may be made to any forward-looking statements to
reflect events or circumstances after the date of such statements
or to reflect the occurrence of anticipated or unanticipated
events.
For further information contact:Kevin J. LynchChairman,
President and Chief Executive OfficerOritani Financial Corp.(201)
664-5400
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