Business Context and Reporting Period
OceanFirst Financial Corp. filed this Form 8-K on April 20, 2011, to report the announcement of financial results for the quarter ended March 31, 2011. The filing also addresses significant corporate governance events and dividend declarations.
Key Financial Metrics
The filing references a press release (Exhibit 99.1) containing the detailed financial results for the quarter ended March 31, 2011. However, the text of this 8-K does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. The filing does confirm the declaration of a regular quarterly cash dividend of $0.12 per share.
Material Changes and Corporate Events
- Dividend Declaration: The Board of Directors declared a quarterly cash dividend of $0.12 per share, payable on May 13, 2011, to stockholders of record as of May 2, 2011.
- Director Departure: Carl Feltz, Jr., a Director since the 1996 IPO and a member of the Compensation and Corporate Governance/Nominating Committees, passed away on April 21, 2011.
Guidance, Outlook, and Risks
The filing text does not contain specific management commentary, forward-looking guidance, or a discussion of risks and contingencies beyond the announcement of the quarterly results and the passing of a director. Investors are directed to the attached press release for further details on the results of operations.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release dated April 20, 2011) for specific Q1 2011 financial figures (revenue, net income, EPS).
- Confirm the record date (May 2, 2011) and payment date (May 13, 2011) for the $0.12 per share dividend.
- Monitor subsequent filings for the appointment of a new director to replace Carl Feltz, Jr.