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May 3, 2011 /PRNewswire/ -- The Board of Directors of Heritage Financial Corporation ("Heritage" or "Company") (NASDAQ: HFWA), announced that a quarterly cash dividend of
$0.03 per common share will be paid on
May 27, 2011 to shareholders of record as of the close of business on
May 13, 2011.
Brian Vance, President and Chief Executive Officer, commented, "We are pleased to resume paying a dividend to our shareholders as this reflects the confidence that our board and management has in the core earnings capacity of Heritage going forward. We diligently review various financial metrics such as capital levels, our belief in the sustainability of our earnings stream and the overall strength of our balance sheet. We carefully monitor the economic outlook and, while we are cautious about the economic recovery, we have determined that a dividend is appropriate at this time."
About Heritage Financial
Heritage Financial Corporation is a bank holding company headquartered in
Olympia, Washington. The Company operates two community banks, Heritage Bank and Central Valley Bank. Heritage Bank serves western
Washington and the greater
Portland, Oregon area through its twenty-six full-service banking offices and its Online Banking Website
www.HeritageBankWA.com. Central Valley Bank serves
Kittitas counties in central
Washington through its six full-service banking offices and its Online Banking Website
www.CVBankWA.com. Additional information about Heritage Financial Corporation is available on its Internet Website
SOURCE Heritage Financial Corporation