BCB Bancorp (BCBP) said Thursday that its board has voted to suspend dividend payments in a bid to preserve capital.

The elimination of the quarterly dividend will save roughly $1.86 million in capital per quarter, the company added.

The bank holding company has also voted to suspend its 2026 Amended and Restated Dividend Reinvestment and Stock Purchase Plan.

Shares fell nearly 1% in recent after-hours trading.