RIVERSIDE, Calif.--(BUSINESS WIRE)--Aug. 1, 2003--Provident
Financial Holdings Inc. (Nasdaq:PROV) today announced that the
corporation's board of directors declared a quarterly cash dividend of
$0.10 per share on the corporation's outstanding shares of common
stock. Shareholders of record at the close of business on Aug. 20,
2003 will be entitled to receive the cash dividend. The cash dividend
will be payable on Sept. 12, 2003.
"We are very pleased that our current financial performance and
the outlook for our future performance supports an increase to the
cash dividend," commented Craig G. Blunden, chairman and chief
executive officer. He went on to say, "Recently enacted tax laws
reducing the income tax liability on cash dividends has resulted in
this becoming a more favorable event for our shareholders."
Forward-looking Statement
Certain matters in this news release constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward looking statements relate to, among
others, expectations of the business environment in which the
corporation operates, projections of future performance, perceived
opportunities in the market, potential future credit experience, and
statements regarding the corporation's mission and vision. These
forward-looking statements are based upon current management
expectations, and may, therefore, involve risks and uncertainties. The
corporation's actual results, performance, or achievements may differ
materially from those suggested, expressed, or implied by
forward-looking statements due to a wide range of factors including,
but not limited to, the general business environment, interest rates,
the California real estate market, competitive conditions between
banks and non-bank financial services providers, regulatory changes,
and other risks detailed in the corporation's reports filed with the
Securities and Exchange Commission, including the Annual Report on
Form 10-K for the fiscal year ended June 30, 2002. Forward-looking
statements are effective only as of the date that they are made and
Provident Financial Holdings Inc. assumes no obligation to update
this information.
CONTACT: Provident Financial Holdings Inc., Riverside
Craig G. Blunden or Donavon P. Ternes, 909-686-6060
SOURCE: Provident Financial Holdings Inc.