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Some analysts believe the time is ripe for second-step conversions by mutual holding companies. Still, some bankers believe the floodgates will remain closed until regulators decide to let MHCs pay a special dividend before converting.
April 17
Investors Bancorp (ISBC) will pay its first dividend, as the $11.5 billion-asset mutual thrift edges closer to a possible second-step conversion.
Shareholders of record as of Oct. 15 will receive a cash dividend of 5 cents per share. The dividend, announced on Friday, will be the first for the Short Hills, N.J.-based company since it went public in 2005. Investors will pay the dividend to public shareholders and its mutual holding company, which owns about 58% of its shares.
Investors is widely considered one of the mutual holding companies that's