Dime Community To Redeem $40 Mln Debentures

(RTTNews) - Dime Community Bancshares, Inc. (DCOM), a holding company for Dime Community Bank, Monday announced that it plans to redeem all of its outstanding Fixed or Floating Subordinated Debentures due 2030, with $40 million principal amount, on March 30.

The redemption is expected to be funded by cash and is surmised to be accretive to EPS. Further, the company has reauthorized a repurchase of up to 1,566,947 of its common stock that remains under its existing repurchase plan.

In pre-market activity, DCOM shares were trading at $33.80, up 2.99% on the Nasdaq.