Business Digest.Byline: The Register-Guard LOCAL Eugene bank alters dividend system Eugene-based Pacific Continental Bank on Friday declared a quarterly cash dividend of 8 cents a share, and the bank said it is switching its dividend payment schedule from semiannual Semiannual An event that occurs twice in a calendar year. Notes: A bond with semiannual coupons would issue payment once every six months. See also: Annual, Bond, Coupon Bond to quarterly. The new dividend will be paid March 15 to shareholders of record on Feb. 28. Under the quarterly system, cash dividends will be paid in March, June, September and December of each year, the bank said. "A review of corporate dividend practices identified that quarterly dividend payments were the more common practice," Chief Executive J. Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England. Riddle riddle, puzzling question, specifically one that consists of a fanciful description or definition of something to be guessed. A famous riddle was asked by the Sphinx: "What goes on four legs in the morning, on two at noon, on three at night?" Oedipus guessed the said. "Our historical practice of semiannual payments was instituted many years ago when we were a private company with less public investor visibility. ... A quarterly dividend payment schedule enables us to stay in touch with our shareholders on a more frequent basis." In the past, the bank paid out in dividends approximately 25 percent of the profit of the previous six months. The board will now review recent operating performance, the level of accumulated ac·cu·mu·late v. ac·cu·mu·lat·ed, ac·cu·mu·lat·ing, ac·cu·mu·lates v.tr. To gather or pile up; amass. See Synonyms at gather. v.intr. To mount up; increase. retained earnings Retained Earnings The percentage of net earnings not paid out in dividends, but retained by the company to be reinvested in its core business or to pay debt. It is recorded under shareholders equity on the balance sheet. , and other financial measures before paying dividends. |
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