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BOUND BROOK, N.J. - SR Bancorp, Inc. (NASDAQ:SRBK), the holding company for Somerset Regal Bank, announced Friday that its Board of Directors has declared a quarterly cash dividend of $0.05 per share, representing a 1.53% annual yield. According to InvestingPro data, the stock has delivered a strong 9.86% return year-to-date.
The dividend will be paid on July 15, 2025, to stockholders of record as of June 30, 2025, according to a press release statement.
"We are pleased to be in a strong financial position giving us the ability to pay a cash dividend," said David Orbach, Executive Chairman of SR Bancorp.
Somerset Regal Bank operates as a full-service commercial bank with 14 branches across Essex, Hunterdon, Middlesex, Morris, Somerset and Union Counties in New Jersey.
As of March 31, 2025, the bank reported total assets of $1.07 billion, net loans of $780.8 million, deposits of $835.6 million, and total equity of $195.1 million.
SR Bancorp serves as the holding company for Somerset Regal Bank, which is headquartered in Bound Brook, New Jersey.
In other recent news, SR Bancorp has announced its first quarterly cash dividend of $0.05 per share, marking a significant milestone for the company. The dividend will be distributed on April 15, 2025, to shareholders who are on record as of March 31, 2025. This decision reflects the company’s strong financial position and its ability to generate sufficient cash flow to return value to shareholders. As of the end of 2024, SR Bancorp’s subsidiary, Somerset Regal Bank, reported total assets of $1.06 billion, net loans of $775.8 million, and deposits amounting to $824.1 million. The bank’s total equity stood at $198.1 million, indicating a robust financial foundation. CEO William P. Taylor expressed satisfaction with the company’s financial health, which has enabled the initiation of the dividend payout. SR Bancorp also issued cautionary statements regarding forward-looking information, highlighting the potential risks and uncertainties that could affect future results. These include economic conditions, competitive pressures, and changes in interest rates and regulations.
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