BCB Bancorp has suspended its quarterly cash dividend on both common and preferred stock as part of a capital preservation effort. The board also voted to suspend its 2026 amended and restated dividend reinvestment and stock purchase plan. CEO Thomas O'Brien said the bank will undergo a fulsome evaluation of its credit portfolios, and eliminating the quarterly dividend will conserve approximately $1.86 million of capital per quarter. Shares were trading 1.90% lower at $10.85 after market hours on Thursday.
BCB Bancorp IncBCB Bancorp suspends quarterly dividend to preserve capital, indicating financial strain and reducing shareholder returns.