Avidia Bancorp Declares $0.06 Quarterly Dividend for Nov. 30

Avidia Bancorp Inc. (NYSE: AVBC), the parent of Avidia Bank, declared a quarterly cash dividend of $0.06 per share. Shareholders listed at the close of business Nov. 17 will qualify, with payment expected on or about Nov. 30.

The dividend keeps the rate Avidia established in July, when it raised the quarterly payout 20% from $0.05 per share.

For the three months ended Sept. 30, net income was $8.601 million, or $0.47 per share. Second-quarter net income was $7.170 million, or $0.39 per share.

“Quarterly earnings growth benefited from higher loan yields and a lower loan loss provision,” CEO Robert Cozzone said.