Arizona Bank declares dividend.TUCSON Tucson (t  `sŏn'), city (1990 pop. 405,390), seat of Pima co., SE Ariz.; inc. 1877. ,Ariz.--(BUSINESS WIRE)--Jan. 16, 1997--Arizona Bank, the
largest locally owned and managed bank in the state of Arizona Arizona (âr'əzō`nə), state in the southwestern United States. It is bordered by Utah (N), New Mexico (E), Mexico (S), and, across the Colorado R., Nevada and California (W). , declared
dividends declared dividendA dividend authorized by a firm's board of directors. At the time a dividend is declared, the firm creates a liability for the dividend's payment. of $.5938, $.6563 and $.5703 per share, respectively, on its Series C, Series E, and Series F preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . These dividends are payable Feb. 15, 1997. The record date for the purposes of these dividends will be Jan. 31, 1997. The preferred stock dividends were announced following the bank's reported record earnings for the year ended Dec. 31, 1996. Net income for the fourth quarter 1996 was $1.4 million compared to $1.3 million in the same quarter in 1995, an increase of 6.9 percent. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. income increased by 21.3 percent to $5.8 million compared with $4.8 million in 1995, like period a year ago. Total assets increased to $625.6 million, an increase of $90.4 million or 17 percent. -0- Ser F Pr 9.125 percent Cusip No.-040474306 $.5703 per share Ser E Pr 10.50 percent Cusip No.-040474207 $.6563 per share CONTACT: Arizona Bank, Tucson Florence Nanez, 520/620-3268 |
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