AMERIANA INCREASES CASH DIVIDEND 7% TO $.16 PER SHARE.NEW CASTLE, Ind.--(BUSINESS WIRE)--Aug. 26, 1997--Harry J. Bailey, President and Chief Executive Officer of Ameriana Bancorp (The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. : ASBI ASBI American Segmental Bridge Institute ), today announced that the Company's Board of Directors has increased Ameriana's quarterly cash dividend rate 7% to $.16 per share from the previously existing rate of $.15 per share. The new cash dividend rate is payable October 3, 1997, to shareholders of record as of September 12, 1997. Commenting on the announcement, Bailey said, "We are pleased to be able to increase the Company's cash payout again, which allows our shareholders to participate directly in Ameriana's progress. The continued growth of our dividend payment reflects two important factors. The first is the continued momentum we have seen in operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before per share, which increased 16% last year and which are up 6% through the 1997 mid-year point. Second, Ameriana remains one of the strongest financial institutions in the industry, with a capital position equal to 11% of total assets." Bailey noted that this increase is the twelfth since Ameriana's regular quarterly dividends commenced in November 1987. The rate was last changed in November 1996. Ameriana Bancorp, through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Ameriana Bank, a federal savings bank Noun 1. federal savings bank - a federally chartered savings bank FSB savings bank - a thrift institution in the northeastern United States; since deregulation in the 1980s they offer services competitive with many commercial banks , and Deer Park Federal Savings and Loan Association Federal Savings and Loan Association An institution chartered by the federal government whose primary function is to collect savings deposits and to provide mortgage loans. , offers an extensive line of banking services through branches in central Indiana and in the greater Cincinnati, Ohio area. Ameriana Bancorp also offers title insurance through Indiana Title Insurance Company. In addition to its banking services, Ameriana Bank, through Ameriana Financial Services, Inc., has an interest in a life insurance company, owns Ameriana Insurance Agency - a full-service insurance agency, and provides a full line of investments and securities products in its brokerage center. CONTACT: Ameriana Bancorp, New Castle Harry J. Bailey, 317/529-2230 |
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