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November 21, 2012

Rockville Bank to pay special dividend

Rockville Financial, Inc., the holding company for Rockville Bank, plans to pay a special cash dividend of 16 cents per share on Dec. 10 to shareholders of record as of Dec. 3.

"Rockville Financial, Inc. has enjoyed solid financial performance; we are significantly overcapitalized and generating capital internally. As we've previously said, return of capital is a key strategy for our company," said William (Bill) H.W. Crawford IV, president and chief executive officer of Rockville Financial, Inc. and Rockville Bank.

On Oct. 25, Rockville announced its highest quarterly earnings in its 154-year history for the quarter ended Sept. 30. The company also announced its 26th consecutive quarterly dividend ($0.10 per share) since becoming a public company in 2005, an 11 percent increase from the prior quarter and a 54 percent increase from its second step conversion in March 2011.

In making the announcement after the stock market closed Wednesday, the company made no mention of possible escalating tax rates on dividends in 2013. A number of companies are announcing similar special dividends late this year with an eye toward helping stockholders avoid higher tax rates next year.

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