Berkshire Hills Bancorp, Inc. Approves Quarterly Cash Dividend on Common Stock, Payable on February 28, 2020; Approves Quarterly Cash Dividend on Preferred Stock
January 27, 2020 at 04:15 pm
Share
The Board of Directors of Berkshire Hills Bancorp Inc. approved a quarterly cash dividend of $0.24 per common share to shareholders of record at the close of business on February 17, 2020 and payable on February 28, 2020. This is a 4% increase compared to the prior $0.23 dividend per common share. This dividend equates to a 3.1% annualized yield based on the $31.35 average closing price of Berkshire's common stock during the fourth quarter of 2019.
Effective for the same dates, the Board also approved an increase in the quarterly cash dividend on preferred stock to $0.48 per share.
Berkshire Hills Bancorp, Inc. is a holding company for Berkshire Bank (the Bank). The Bank provides commercial banking, retail banking, consumer lending, private banking and wealth management services. The Bank provides various loans, including commercial real estate, commercial and industrial loans, residential mortgages and consumer loans. The Bank originates commercial real estate loans on properties used for business purposes, such as retail, multifamily, office, healthcare, hospitality, industrial and manufacturing facilities. The Bank is engaged in prime home equity lending, following its conforming mortgage underwriting guidelines with streamlined verifications and documentation. The Bank offers fixed-rate and adjustable-rate residential mortgage loans. The Company's Wealth Management Group provides consultative investment management, trust administration, and financial planning to individuals, businesses, and institutions, with an emphasis on personal investment management.
Berkshire Hills Bancorp, Inc. Approves Quarterly Cash Dividend on Common Stock, Payable on February 28, 2020; Approves Quarterly Cash Dividend on Preferred Stock
BERKSHIRE HILLS BANCORP, INC. 
