Central Pacific Financial Corp. Bottom Line Drops In Q4

(RTTNews) - Central Pacific Financial Corp. (CPF) announced a profit for fourth quarter that decreased from the same period last year

The company's bottom line came in at $11.345 million, or $0.42 per share. This compares with $14.866 million, or $0.55 per share, last year.

Excluding items, Central Pacific Financial Corp. reported adjusted earnings of $19 million or $0.70 per share for the period.

The company's revenue for the period fell 11.9% to $58.398 million from $66.314 million last year.

Central Pacific Financial Corp. earnings at a glance (GAAP) :

-Earnings: $11.345 Mln. vs. $14.866 Mln. last year. -EPS: $0.42 vs. $0.55 last year. -Revenue: $58.398 Mln vs. $66.314 Mln last year.

On January 28, the company's Board authorized a new share repurchase program to buy back up to $30 million of shares. 

On January 28, Central Pacific Financial declared a quarterly cash dividend of $0.27 per share, which represents an increase of 3.8 percent from the $0.26 per share in the fourth quarter of 2024. The dividend will be paid on March 17 to shareholders of record as of February 28.