LOWELL, Mass. - Enterprise Bancorp, Inc. (NASDAQ:EBTC), a Massachusetts-based financial institution, announced today that its Board of Directors has declared a quarterly dividend. The dividend of $0.24 per share is scheduled for payment on September 3, 2024, to shareholders of record as of August 13, 2024.
Enterprise Bancorp operates primarily through Enterprise Bank and Trust Company, or Enterprise Bank, which focuses on attracting deposits and investing in commercial loans and investment securities.
The bank provides a variety of financial products and services, including commercial, residential, and consumer loan products, deposit products, cash management services, as well as electronic and digital banking options. Moreover, the company offers wealth management and trust services.
The company, with its headquarters and main office located at 222 Merrimack Street in Lowell, Massachusetts, serves a primary market area encompassing parts of Massachusetts and New Hampshire. Specifically, this includes Northern Middlesex, Northern Essex, and Northern Worcester counties in Massachusetts, alongside Southern Hillsborough and Southern Rockingham counties in New Hampshire.
Enterprise Bank maintains a network of 27 full-service branches spread across various communities within these regions, facilitating access to its services for customers in both states.
This dividend declaration follows the company's regular practice of providing quarterly returns to its shareholders and reflects the ongoing operations of the bank in its service areas. The announcement is based on a press release statement from Enterprise Bancorp, Inc. and provides shareholders with pertinent information regarding the upcoming dividend payment.
The financial institution's commitment to maintaining its dividend payouts showcases its position in the market and its ability to generate steady returns for its investors. As a local banking entity, Enterprise Bancorp continues to contribute to the financial well-being of the communities it serves through its comprehensive suite of banking and financial services.
In other recent news, Enterprise Bancorp has declared a quarterly dividend of $0.24 per share. The dividend is payable on June 3, 2024, to shareholders of record as of May 13, 2024. This announcement underscores the company's commitment to delivering value to its shareholders.
Enterprise Bancorp operates primarily through Enterprise Bank and Trust Company, providing a range of services including commercial, residential, and consumer loan products, deposit products, cash management, and digital banking options.
The company serves a primary market area that encompasses parts of Massachusetts and New Hampshire, operating 27 full-service branches across these regions. These recent developments highlight the ongoing activities of Enterprise Bancorp in its efforts to meet the banking needs of its community.
As always, shareholders and potential investors are encouraged to consider the company's performance and market position when evaluating these updates.
InvestingPro Insights
Enterprise Bancorp, Inc. (NASDAQ:EBTC) has demonstrated a robust financial performance as reflected in recent InvestingPro data. With a market capitalization of $344.9 million and a compelling price-to-earnings (P/E) ratio of 9.64, the company presents an attractive valuation for potential investors. The P/E ratio, a key indicator of market expectations and investment attractiveness, suggests that Enterprise Bancorp is reasonably priced relative to its earnings.
Investors seeking income-generating stocks will find Enterprise Bancorp's consistent dividend payments particularly appealing. As an InvestingPro Tip highlights, the company has not only maintained but also raised its dividend for 20 consecutive years, showcasing its commitment to returning value to shareholders. The dividend yield stands at a healthy 3.6%, complemented by a recent dividend growth of 4.35%, which may catch the eye of those focused on steady income streams.
In terms of recent performance, another InvestingPro Tip points to a significant return over the last week, with a 13.41% price total return. This short-term surge, paired with a strong return over the last month of 14.88%, indicates a positive momentum for the company's stock, which may intrigue both traders and long-term investors alike.
For those interested in further insights and metrics, InvestingPro offers additional tips that can provide a deeper understanding of Enterprise Bancorp's financial health and market position. By visiting https://www.investing.com/pro/EBTC and using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking a wealth of information to inform their investment decisions.
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