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 20, 2016
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)) |
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Item 8.01. Other Events
On April 20, 2016, Stewardship Financial Corporation issued a press release announcing a $0.03 per share cash dividend to common stockholders of record on May 2, 2016, payable May 16, 2016. 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 20, 2016 |
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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 21, 2016 | Stewardship Financial Corporation |
| /s/ Claire M. Chadwick | |
| Claire M. Chadwick | |
| Senior Vice President and | |
| Chief Financial Officer |
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| For Immediate Release | Contact: | Mary Beth Steiginga |
| 630 Godwin Avenue | ||
| Midland Park, NJ 07432 | ||
| (201) 444-7100 |
STEWARDSHIP FINANCIAL CORPORATION
DECLARES CASH DIVIDEND
Midland Park, NJ – April 20, 2016 – The Board of Directors of Stewardship Financial Corporation (NASDAQ: SSFN), parent company of Atlantic Stewardship Bank, has declared a $0.03 per share cash dividend. Common stockholders of record as of May 2, 2016 will be paid the dividend on May 16, 2016. This represents an increase over the recent quarterly dividends of $0.02 per share.
In announcing the dividend, Chairman Richard Culp stated, “We are pleased to continue to recognize our shareholders with this increased dividend. This dividend represents the seventy fourth consecutive quarterly dividend since the Corporation began paying quarterly dividends in 1998.”
Paul Van Ostenbridge, President and Chief Executive Officer continued, “The Board of Directors wishes to thank the shareholders for their loyalty over the years by rewarding them with this increased dividend. The board remains dedicated to both the shareholders and giving back to the community through the bank’s unique tithing mission.”
Stewardship Financial Corporation’s subsidiary, Atlantic Stewardship Bank (ASB) is proudly celebrating 30 years of serving the greater New Jersey market. ASB is a full-service community bank serving both individuals and businesses; and is known for tithing, or sharing, 10% of its pre-tax profits with Christian and local charities selected by the Board of Directors. To date, ASB’s total tithing donations total $8.6 million. ASB maintains 12 banking locations in NJ, including; Midland Park, Montville, North Haledon, Pequannock, Ridgewood, Waldwick, Westwood, Wyckoff, two offices in Hawthorne and two offices in Wayne. ASB invites you to visit their website at www.asbnow.com for additional information and to learn more.
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