Roma Financial announces dividend policy following shareholder's SEC filing

By Lisa Kerner

Charlotte, N.C., March 30 - Roma Financial Corp., MHC, the mutual holding company of Roma Financial Corp., filed a notice on March 19 with the Office of Thrift Supervision to waive its quarterly dividends proposed to be paid in the coming year, according to a company news release.

Should the Office of Thrift Supervision accept the waiver, Roma Financial said it expects to declare its first dividend to the minority stockholders before the first annual meeting of stockholders scheduled for April 25, according to a company news release.

On March 27, a group of Roma Financial investors led by Stilwell Value Partners VI, LP filed preliminary proxy materials urging stockholders to withhold their vote from election of management's slate of director nominees at the 2007 annual meeting.

The filing was in response to what the group called Roma Financial's failure "to outline and implement a stockholder-friendly capital allocation plan," according to a schedule 13D filing with the Securities and Exchange Commission.

Stilwell Value Partners beneficially owns 1.966 million shares, or 6%, of the Robbinsville, N.J., Roma Bank holding company's stock.

The shareholder's action could, Roma Financial said, cause it to incur unnecessary expenses. As a result, the company announced that a dividend plan is in the work.

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