Provident Financial Services will pay a quarterly cash dividend of 24 cents a share on Nov. 27 to stockholders of record at the close of business on Nov. 13, the Jersey City, New Jersey, bank holding company said in an SEC filing dated Oct. 29. The amount matches the 24 cents the board declared on July 30, which was paid Aug. 28 to holders of record on Aug. 14.
The payout held steady in a quarter when earnings slipped. Provident reported third-quarter net income of $69.2 million, down from $78.1 million in the second quarter and $71.7 million a year earlier, in its results release.
For anyone who owns the stock, the practical question is whether the shares are in the account before the record date. The company’s filing sets Nov. 13 as the cutoff and Nov. 27 as the day the money is paid, so a shareholder holding 100 shares on the cutoff would collect $24 and one holding 1,000 shares would collect $240.
Stay ahead of government payment news: Miss an enrollment or claim deadline and the money can be gone. Join the Retirement Money Brief and we’ll send you our 2026 Government Check Reality Tracker as a welcome gift.
Get the Brief + the check tracker →
We may earn a commission from links on this page.
Did profit fall far enough to threaten the dividend?
Diluted earnings came to 53 cents a share in the third quarter, compared with 60 cents in the second quarter and 55 cents a year earlier, according to the same release. The 24-cent dividend is about 45% of the latest quarter’s per-share earnings. Nine-month earnings were $226.7 million, or $1.74 a share, while the four 2026 payments add up to 96 cents.
The quarter-over-quarter drop in net income was $8.9 million, or about 11%, and the year-over-year drop was $2.5 million, or about 3%. Neither figure forced a change in the payout, and the release does not link the dividend to the decline.
President and Chief Executive Officer Anthony J. Labozzetta described the period as “another quarter of solid financial results including record revenues.” The company also reported core diluted earnings of 65 cents a share, a non-GAAP measure that strips out items the bank treats as one-time.
How big is the bank behind the payout?
Provident held $25.85 billion in total assets at the end of September, up from $24.98 billion at the end of 2025. Loans held for investment reached $20.17 billion, against $19.50 billion in December, and total deposits stood at $19.81 billion, of which $15.42 billion were core deposits, the release says.
Over nine months, assets grew by roughly $870 million, loans held for investment by about $670 million and deposits by about $530 million, based on the release’s year-end and September balances. The filing does not say how the board arrived at the 24-cent figure.
The dividend announcement describes Provident Bank as operating since 1839, with branches in New Jersey, in Bucks, Lehigh and Northampton counties in Pennsylvania, and in Orange, Queens and Nassau counties in New York. Its subsidiaries include Beacon Trust Company, which handles fiduciary and wealth management, and Provident Protection Plus, which provides insurance services, according to the dividend press release.
Has the dividend changed this year?
It has not. The board declared 24 cents on Jan. 28, payable Feb. 27, then 24 cents again on April 30, payable May 29, and the July declaration followed at the same amount. The November payment is the fourth of 2026, so a holder of 1,000 shares who kept them all year collects $960 across the four dates.
None of the company’s filings or releases describe the November payment as a raise or a cut. Each quarter’s amount is set by a separate board vote, and the company has said nothing about the dividend beyond this declaration.
Is the company buying back stock too?
Only in a small way this quarter. Provident repurchased 1,464 shares in the third quarter at an average of $24.44, all of them tied to tax withholding when stock-based pay vested rather than open-market buybacks. Over the first nine months it repurchased 616,186 shares at an average of $21.10, and about 2,198,007 shares remained available under the current authorization on Sept. 30, the earnings release says.
Where does a dividend check sit until it is needed?
A payment landing Nov. 27 puts cash in a brokerage or bank account just ahead of year-end, when many households decide what to do with idle balances. Deposits at an FDIC-insured bank are covered at $250,000 per depositor, per insured bank, for each account ownership category, the FDIC says. That is a rule for money held in deposit accounts.
Shareholders who reinvest nothing and spend nothing are left with cash earning whatever the account pays. A 24-cent dividend on 500 shares is $120, a small amount, but the same question applies to every dollar that arrives.
The FDIC measures coverage separately for each account ownership category at a bank, so the limit depends on how an account is titled. Anyone holding a large cash balance in addition to bank stock has two separate decisions: how much of the portfolio to leave in one company’s shares, and how much cash to keep inside the insured limit.
Where should the Nov. 27 dividend cash go?
A Provident shareholder who collects 24 cents a share on Nov. 27 can find the money parked in a brokerage sweep or a near-zero checking balance by the new year. Every idle dollar there earns less than it could, and balances above $250,000 at one bank sit outside the FDIC limit.
Make Your Savings Pay You is an 11-page guide to the safe places that pay more, including Treasury bills from $100, free of state and local income tax, and every dollar insured, even above $250,000 at one bank. It also includes a worksheet that maps what your cash earns now.
Put the Nov. 27 dividend cash to work with the insured-savings and T-bill guide →
This article was produced with AI assistance and edited for accuracy against the sources linked above.
Warren Cohen is a finance writer based in Phoenix, Arizona, covering personal finance topics including credit, banking, and beginner investing. He earned his degree in business administration from Arizona State University and began his career working in consumer finance, where he gained direct experience with lending and credit systems. He now writes for personal finance websites and fintech platforms, focusing on clear, practical content that helps readers make informed financial decisions.
