Bayonne Bancshares Increases Dividend 47%.BAYONNE, N.J.--(BUSINESS WIRE)--June 30, 1998--Bayonne Bancshares, Inc., (Nasdaq: FSNJ). the holding company for First Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. of New Jersey, SLA (1) (StereoLithography Apparatus) See 3D printing. (2) (Service Level Agreement) A contract between the provider and the user that specifies the level of service expected during its term. , announced that its Board of Directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: an increase in its quarterly cash dividend to $0.06-1/4 per common share from $0.04-1/4 per common share for the quarter ending June 30, 1998. The dividend will be payable to stockholders of record as of July 10, 1998, and will be paid July 27, 1998. Michael Nilan, President and Chief Executive Officer of Bayonne Bancshares, said, "This will be our fourteenth consecutive dividend payment since 1995 and the third since the Bank's full conversion to a stock company. This quarterly dividend is equal to 25 cents on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis and represents a 47% increase over the previous annualized dividend amount of 17 cents. The increased payout reflects the Company's strong capital position and our positive outlook for the future." Bayonne Bancshares, Inc. is the holding company for First Savings Bank of New Jersey, SLA which operates from its main office and three branch offices in Bayonne, New Jersey Bayonne is a city in Hudson County, New Jersey, United States, south of Jersey City. As of the United States 2000 Census, the city had a total population of 61,842. According to tradition, the city derives its name from the city of Bayonne in France. . The Company had total assets of $646.1 million and $423.5 million in deposits as of March 31, 1998.
CONTACT: Eugene V. Malinowski, Vice President/CFO,
Bayonne Bancshares, Inc. tel: (201) 437-1000
or
Hal Levine, The Levine Group, tel: (212) 682-8875
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