Bank of the Sierra Declares Special Dividend.PORTERVILLE Porterville, city (1990 pop. 29,563), Tulare co., S central Calif., on the Tule River; founded 1859 on the old Los Angeles–San Francisco stage route, inc. 1902. , Calif.--(BUSINESS WIRE)--Nov. 13, 1998--The Board of Directors of Bank of the Sierra declared a special cash dividend of $.07 per share for all stockholders of record as of November November: see month. 23, 1998, payable December December: see month. 11, 1998. This special dividend was declared at the regular monthly Board meeting held November 12, 1998. This special dividend amounting to $644,860 is the first of its kind for Bank of the Sierra and it will be funded entirely by the gain on sale of a small portion of the Bank's investment in Phoenix International Ltd., Inc., a publicly traded bank software company that the Bank invested in some years ago. President Jim Holly indicated that the stock sale was intended to tangibly reward Bank stockholders for their investment in the Phoenix company, and he also expressed continued confidence in the sizable siz·a·ble also size·a·ble adj. Of considerable size; fairly large. siz  a·ble·ness n. remaining investment that the Bank maintains in Phoenix. Bank of the Sierra, which is celebrating its 20th anniversary as a locally owned independent bank, is the largest independent bank headquartered in the South Valley, and operates ten branch offices as well as four real estate centers, three ag credit centers and a bank card center. The Bank will be opening its eleventh In music or music theory an eleventh is the note eleven scale degrees from the root of a chord and also the interval between the root and the eleventh. Since there are only seven degrees in a diatonic scale the eleventh degree is the same as the subdominant and the interval branch in Hanford in January 1999. More information about Bank of the Sierra is available on the Bank's web site, www.bankofthesierra.com. |
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