Bridge Bancorp, Inc. Announces Quarterly and Special Dividends.Business Editors BRIDGEHAMPTON, N.Y.--(BUSINESS WIRE)--Dec. 16, 2003 Bridge Bancorp, Inc. (the "Company") (NASDAQ/OTCBB:BDGE), the holding company for The Bridgehampton National Bank, on December 15, 2003 announced the declaration of a quarterly dividend of $0.23 per share. On a quarterly and year to date basis, regular dividends declared per share have increased 43.8% and 27.9%, respectively, over last year. The dividend represents a 15.0% increase over the prior quarter. In addition to the regular dividend, the Company has declared a special dividend of $0.40 per share. Thomas J. Tobin, President and Chief Executive Officer, commented on the special dividend, "While our Company enjoyed a steady increase in assets over the past few years, strong earnings growth outpaced asset growth. In addition, opportunities to buy back shares under our announced stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program were not available during 2003. As a result, despite steady increases in quarterly dividends, our capital levels remain higher than projected. This special, unscheduled unscheduled Adjective not planned or intended Adj. 1. unscheduled - not scheduled or not on a regular schedule; "an unscheduled meeting"; "the plane made an unscheduled stop at Gander for refueling" dividend will bring capital to an appropriate level, sufficient to support planned expansion and growth." Both dividends will be payable on January 20, 2004 to shareholders of record as of December 31, 2003. Continuing a trend of uninterrupted dividends, shares of Bridge Bancorp, Inc. continue to provide a competitive dividend yield. Founded in 1910, Bridgehampton National Bank is the oldest independent commercial bank headquartered on the South Fork South Fork may refer to:
A village of southeast New York on the eastern end of Long Island on an inlet of Long Island Sound. A major whaling port in the early 19th century, it is today primarily a resort. Population: 2,360. , Southampton, Southampton Village and Southold. The Bridgehampton National Bank, which is locally directed and managed, maintains a policy of community involvement through programs and initiatives that enhance the environment and quality of life on eastern Long Island. The Bank is a member of the Federal Deposit Insurance Corporation Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000. and is an Equal Housing Lender The terms Equal Housing Lender and Equal Opportunity Lender are synonymous and refer to all FDIC insured banks in the United States. Such banks are prohibited from discriminating on the basis of race, color, religion, national origin, sex, handicap, or familial status. and Equal Opportunity Employer equal opportunity employer An employer or enterprise that does not discriminate against a job candidate, or subject him/her to adverse exclusionary criteria, based on race, sex, religion, or national origin. See Equal employment opportunity. . This release may contain certain forward-looking statements that are based on management's current expectations regarding economic, legislative, and regulatory issues that may impact the Company's earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions, changes in interest rates, deposit flows real estate values, and competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory and technological factors affecting the Company's operations, pricing, products and services. |
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