ASB Holding Company Announces Cash Dividend.BLOOMFIELD, N.J. -- ASB ASB Asbestos ASB Arbeiter Samariter Bund (German medical help organisation) ASB Anti-Social Behaviour ASB Accounting Standards Board (UK FRC) ASB Aarhus School of Business Holding Company (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Electronic Bulletin Board "ASBH ASBH American Society for Bioethics and Humanities ") (the "Company"), the middle-tier stock holding company of American Bank of New Jersey (the "Bank") and ASB Investment Corp, announced today that the Company's Board of Directors has declared a quarterly cash dividend of $0.09 per share to stockholders of record as of June 15, 2005 payable on or about June 29, 2005. Seventy percent of the stock of the Company is owned by American Savings, MHC MHC major histocompatibility complex. MHC abbr. major histocompatibility complex MHC major histocompatibility complex. , a federal mutual holding company (the "MHC"). This is the Company's first regular quarterly dividend since completing its minority stock offering on October 3, 2003. The Company previously paid a special cash divided of $0.75 per share to shareholders in December 2004. Mr. Kowal indicated that the cash dividend is being paid to provide a return to stockholders, after considering the equity and profitability of the Company and the Bank. The payment of future dividends will be subject to the Board's periodic review of the financial condition, earnings, and capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. of the Company and the Bank. At March 31, 2005, the Company had total assets and stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. of $441.0 million and $38.8 million, respectively while reporting total deposits of $328.0 million and net loans of $333.3 million. The Bank is a federally chartered stock savings bank which conducts business from its main office in Bloomfield, New Jersey and a branch office in Cedar Grove, New Jersey. The Company's common stock is traded on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol "ASBH." The foregoing information contains forward-looking statements concerning the financial condition, results of operations and business of the Company and its plans, objectives, expectations, estimates and intentions. The Company cautions that such statements are subject to a number of uncertainties and actual results could differ materially, and, therefore, readers should not place undue reliance on any forward-looking statements. The Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company. |
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