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WHITE PLAINS, N.Y. - NorthEast Community Bancorp, Inc. (NASDAQ:NECB) announced Thursday that its Board of Directors has declared a special cash dividend of $0.20 per share on its outstanding common stock.
The special dividend will be paid on October 6, 2025, to shareholders of record as of September 8, 2025, according to a press release issued by the company.
With a price-to-earnings ratio of 6.39 and market capitalization of $252.5 million, the company demonstrates strong financial fundamentals. "We are pleased to again pay a special dividend to our shareholders," said Kenneth A. Martinek, Chairman and Chief Executive Officer of the company. "The payment of dividends continues to represent one part of our long-term commitment to enhancing shareholder value."
NorthEast Community Bancorp serves as the holding company for NorthEast Community Bank, which operates eleven branch offices across New York and Massachusetts. The bank maintains branches in Bronx, Orange, Rockland, and Sullivan Counties in New York, as well as Essex, Middlesex, and Norfolk Counties in Massachusetts. Additionally, the institution operates three loan production offices in New City and White Plains, New York, and Danvers, Massachusetts.
The company is headquartered in White Plains, New York.
In other recent news, NorthEast Community Bancorp, Inc. held its annual stockholders’ meeting, where key decisions were made regarding the company’s leadership. During the meeting, three directors were elected to serve three-year terms on the board. Charles M. Cirillo received 6,550,609 votes in favor, while 995,983 votes were withheld. Eugene M. Magier garnered 5,732,855 votes in support, with 1,813,737 votes withheld. Kenneth A. Martinek, who also holds the positions of Chairman and Chief Executive Officer, was re-elected with 7,009,242 votes for and 537,350 votes withheld. The election process also recorded 2,277,629 broker non-votes. These developments reflect the company’s ongoing governance and leadership strategies.
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