Ameriana increases cash dividend 7% to $.15 per share.NEW CASTLE, Ind.--(BUSINESS WIRE)--Nov. 25, 1996--Harry J. Bailey, president and chief executive officer of Ameriana Bancorp (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :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 $.15 per share from the previously existing rate of $.14 per share. This increase is the eleventh since Ameriana's regular quarterly dividends commenced in November 1987. The rate was last changed in February 1996. The new cash dividend rate is payable Jan. 3, 1997, to shareholders of record as of Dec. 13, 1996. Commenting on the announcement, Bailey said, "We are pleased to be able to increase the company's cash payout again so that shareholders may participate more directly in the progress we have achieved. Our 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 have continued to show positive momentum in 1996 and, with capital equal to approximately 11% of total assets, our financial position remains among the strongest in the industry." 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 Co. 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 Harry J. Bailey, 317/529-2230 |
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