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Territorial declares special dividend of 10 cents

Dave Segal

The holding company of Territorial Savings Bank has declared a special cash dividend of 10 cents a share that will be payable on Dec. 23 to shareholders of record as of Dec. 12.

This is the fourth consecutive year that Territorial Bancorp Inc. will be paying out a special dividend in addition to its regular quarterly dividends.

“The special dividend is in addition to our 23rd consecutive dividend declared on Oct. 29,” Territorial Chairman and CEO Allan Kitagawa said Wednesday. “Our 2015 performance to date and our strong capital position allows us to share this with (the bank’s shareholders).”

The special dividend of 10 cents and four quarterly dividends — two at 16 cents a share and two at 17 cents a share‚ reflect a total distribution of 76 cents a share for 2015.

“For shareholders who were part of our IPO (initial public offering) in 2009, the dividend represents a yield of approximately 8 percent on your initial IPO investment of $10 per share,” Kitagawa said.

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