Summary
People's Bank earned $34.8 million, or 24 cents a share, in the first quarter, an 11 percent increase over net income of $31.4 million, or 22 cents a share, a year earlier. In conjunction with its earnings announcement Thursday, People's said its board of directors voted to increase the quarterly dividend by 3 cents a share, or 14 percent, from 22 to 25 cents a share, the 14th consecutive increase. The dividend is payable May 15 to shareholders of record May 1.
People's Mutual Holdings, which owns 82 million shares of People's Bank common stock, will accept dividends on only 2.2 percent of its shares. The bank has 141.6 million shares outstanding.See the full content of this document
Extract
People's Bank 1q Earnings Up by 11% Over Last Year's
Income from continuing operations increased 14 percent to $33.9 million...
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