PLANO, Texas, July 23 /PRNewswire-FirstCall/ -- ViewPoint
Financial Group, Inc. (Nasdaq: VPFG/VPFGD), the holding company for
ViewPoint Bank, today announced a quarterly cash dividend of
$0.04 per share. The cash
dividend is payable on August 19,
2010, to shareholders of record as of the close of business
on August 5, 2010.
This $0.04 per share cash dividend
represents a 12% increase over the dividend paid by ViewPoint
Financial Group in the second quarter, once that $0.05 per share second quarter dividend is
adjusted by the 1.40:1 exchange ratio applied to ViewPoint
Financial Group shares as part of our conversion and related stock
offering completed on July 6, 2010.
Prior to that conversion, ViewPoint MHC, the owner of
approximately 57%, or 14,183,182, of the shares of ViewPoint
Financial Group, waived its right to receive dividends from
ViewPoint Financial Group. This waiver resulted in a total
dividend expense in April 2010 of
$537,000. Under our new stock
holding company structure, ViewPoint Financial Group, Inc. will pay
dividends on a share base of 34,864,800 shares, resulting in a
total dividend payout in August 2010
of approximately $1.4 million.
ViewPoint Financial Group, Inc. is the holding company for
ViewPoint Bank. ViewPoint Bank operates 23 community bank
offices and 16 loan production offices. For more information,
please visit www.viewpointbank.com or
www.viewpointfinancialgroup.com.
When used in filings by the Company with the Securities and
Exchange Commission (the "SEC"), in the Company's press releases or
other public or shareholder communications, and in oral statements
made with the approval of an authorized executive officer, the
words or phrases "will likely result," "are expected to," "will
continue," "is anticipated," "estimate," "project," "intends" or
similar expressions are intended to identify "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements are subject to certain
risks and uncertainties, including, among other things, changes in
economic conditions, legislative changes, changes in policies by
regulatory agencies, fluctuations in interest rates, the risks of
lending and investing activities, including changes in the level
and direction of loan delinquencies and write-offs and changes in
estimates of the adequacy of the allowance for loan losses, the
Company's ability to access cost-effective funding, fluctuations in
real estate values and both residential and commercial real estate
market conditions, demand for loans and deposits in the Company's
market area, competition, changes in management's business
strategies and other factors set forth under Risk Factors in our
Form 10-K, that could cause actual results to differ materially
from historical earnings and those presently anticipated or
projected. The Company wishes to advise readers that the
factors listed above could materially affect the Company's
financial performance and could cause the Company's actual results
for future periods to differ materially from any opinions or
statements expressed with respect to future periods in any current
statements.
The Company does not undertake – and specifically declines any
obligation – to publicly release the result of any revisions which
may be made to any forward-looking statements to reflect events or
circumstances after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events.
SOURCE ViewPoint Financial Group, Inc.
