WSFS Financial Boosts Dividend by 18%, Stock Buyback Program by 15%

Dow Jones04-24

By Elias Schisgall

WSFS Financial boosted its dividend by 18% and its stock buyback program by 15% of outstanding shares after reporting higher profit in the first quarter.

The parent company of WSFS Bank said the new dividend stands at 20 cents per share, up from 17 cents.

The new payout, equal to 80 cents a year, represents a 1.1% annual yield based on the company's Thursday closing price of $70.15. The dividend will be paid on May 22 to shareholders of record as of May 8.

The company's board also approved an additional 15% share repurchase authorization, bringing its total buyback authorization to 19% of all outstanding shares, roughly 10.1 million, as of March 31.

WSFS Financial recorded a first-quarter profit of $86.8 million, or $1.64 a share, compared with a profit of $65.9 million, or $1.12 a share, a year earlier.

Stripping out certain one-time items, the company logged adjusted earnings of $1.68 a share. Analysts polled by FactSet were expecting $1.50 a share.

Net interest income rose to $185.1 million from $175.2 million in the year-ago quarter. Analysts were expecting $181.3 million.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

April 23, 2026 17:11 ET (21:11 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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