JOHNSTOWN, Pa., Oct. 24, 2016 /PRNewswire/ -- AmeriServ Financial, Inc. (NASDAQ: ASRV) announced that its Board of Directors declared a $0.015 per share quarterly common stock cash dividend. The cash dividend is payable November 21, 2016 to shareholders of record on November 7, 2016. This cash dividend represents a 1.84% annualized yield using the October 21, 2016 closing common stock price of $3.26 and represents an approximate payout ratio of 25% based upon the Company's recently reported third quarter 2016 earnings per share of $0.06.
AmeriServ Financial, Inc. is the parent of AmeriServ Financial Bank and AmeriServ Trust and Financial Services Company in Johnstown. The Company's subsidiaries provide full-service banking and trust and wealth management services through sixteen community offices in southwestern Pennsylvania. At September 30, 2016, AmeriServ had total assets of $1.14 billion, a book value of $5.29 per common share and a tangible book value of $4.66 per common share.