Parke Bancorp hikes dividend by 12.5%

On August 30, 2022, Parke Bancorp (PKBK) announced a dividend increase of 12.5% to $0.18 quarterly per share. This marks the first dividend hike by the bank holding company since 2019 when a dividend hike of14.3 percent to $0.16 per share was announced.

The next PKBK dividend is payable on September 23, 2022, to its stockholders of record as of the close of business on September 9, 2022. The new dividend yields 3.2% based on the new annual dividend amount of $0.72 per share and a stock price of $22.54 for Parke Bancorp. The next ex-dividend date for BKBK is September 8, 2022. Based on estimates by dividendhike.com Parke Bancorp will now pay a total annual dividend of $9 million.

Parke Bancorp, Inc. is a bank holding company of Parke Bank. The Bank is a full commercial service bank, with focus on providing personal and business financial services to individuals and small to mid-sized businesses in Gloucester, Atlantic and Cape May Counties in New Jersey and the Philadelphia area in Pennsylvania.