Dividends

Information regarding Dividends for current Dime shareholders

Question: I am a current shareholder of Dime (ticker: "DCOM"). Will I receive a dividend in the first quarter of 2021? If so, when will I receive the dividend?

Answer: As disclosed previously, Dime has entered into a merger transaction with Bridge Bancorp, Inc. (the "Company"). The merger transaction is expected to close on February 1st, 2021. At the closing of the transaction, each existing Dime share will be exchanged for 0.648 shares of the Company. Shareholders of record of the Company as of February 5, 2021 will be eligible for a dividend in the first quarter of 2021. The first quarter of 2021 dividend will be paid on February 12, 2021.

 

Question: I currently own 1,000 shares of Dime stock. What will my dividend payment be on February 12, 2021?

Answer: As mentioned above, each Dime share will be exchanged for 0.648 shares of the Company. In this example, 1,000 shares of Dime will be exchanged into 648 shares of the Company. Shareholders of record of the Company as of February 5, 2021 will be eligible for the first quarter of 2021 dividend to be paid on February 12, 2021. In this example, the 648 shares of the Company will receive a dividend of $0.24 per share or $155.52 (i.e., 1,000 original Dime shares multiplied by the 0.648 exchange ratio multiplied by $0.24 per share).

 

Question: Will my first quarter of 2021 dividend increase or decrease compared to the dividend I received in the fourth quarter of 2020?

Answer: A shareholder of Dime will receive a higher dividend in the first quarter of 2021, when compared to the fourth quarter of 2020. Using the same 1,000 share example cited above, a shareholder of Dime would have received a dividend of $140 in the fourth quarter of 2020. As detailed above, for the first quarter of 2021, the same 1,000 shares will be paid a dividend of $155.52.