SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) April 18, 2012
Stewardship Financial Corporation
(Exact Name of Registrant as Specified in its Charter)
| New Jersey | 1-33377 | 22-3351447 |
| (State or Other Jurisdiction of | (Commission | (IRS Employer |
| Incorporation) | File Number) | Identification No.) |
| 630 Godwin Avenue, Midland Park, NJ | 07432 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code (201) 444-7100
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2. below):
| o | Written communications pursuant to Rule 425 under the Securities Act (17CFR230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c)) |
| 1 |
| Item 8.01. | Other Events |
On April 18, 2012, Stewardship Financial Corporation issued a press release announcing a $0.04 per share cash dividend to common stockholders of record on May 1, 2012, payable May 15, 2012. A copy of the press release is attached hereto as Exhibit 99.1.
| Item 9.01. | Financial Statements and Exhibits |
| (d) | The following exhibit is furnished pursuant to Item 8.01. |
| Exhibit No. | Description | ||
| Exhibit 99.1 | Press Release dated April 18, 2012 |
| 2 |
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: April 19, 2012 | Stewardship Financial Corporation |
| /s/ Claire M. Chadwick | |
| Claire M. Chadwick | |
| Senior Vice President and | |
| Chief Financial Officer |
| 3 |
PRESS RELEASE
STEWARDSHIP FINANCIAL CORPORATION
DECLARES CASH DIVIDEND
Midland Park, NJ – April 18, 2012 – The Board of Directors of Stewardship Financial Corporation (NASDAQ: SSFN), parent company of Atlantic Stewardship Bank, has declared a $0.04 per share cash dividend. Common stockholders of record as of May 1, 2012 will be paid the dividend on May 15, 2012.
The $0.04 per share dividend represents a reduction from the prior quarterly dividend of $0.05 per share. In announcing the dividend, Chairman William C. Hanse stated, “The Board of Directors made a prudent decision to pay a $0.04 cash dividend on common shares. We remain committed to providing value to our shareholders, while recognizing the responsibility to maintain appropriate capital levels supporting a strong corporation.”
Paul Van Ostenbridge, President and Chief Executive Officer continued, “We are pleased to continue paying a cash dividend despite operating in a challenging economic environment.”
Stewardship Financial Corporation’s subsidiary, the Atlantic Stewardship Bank, has 13 banking offices in Midland Park, Hawthorne (2), Montville, North Haledon, Pequannock, Ridgewood, Waldwick, Wayne (3), Westwood and Wyckoff, New Jersey. The bank is known for tithing 10% of its pre-tax profits to Christian and local charities. To date, the Bank’s total tithe donations total $7.7 million.
We invite you to visit our website at www.asbnow.com for additional information.
| 4 |