CHARTER BANCSHARES ANNOUNCES 17% INCREASE IN QUARTERLY CASH DIVIDEND.HOUSTON, TEXAS--(BUSINESS WIRE)--April 3, 1995--Charter Bancshares, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SAIL) today announced a 17% increase in its quarterly cash dividend from $0.06 per share to $0.07 per share. The dividend will be payable April 17, 1995, to common shareholders of record on April 4, 1995. Charter also announced declaration of the regular semi-annual dividend payable on Charter's 14,200 shares of 8% initial series 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. , with a record date of March 15, 1995, and a payment date of March 31, 1995. Jerry E. Finger, Chairman and Chief Executive Officer of Charter Bancshares, noted, "This dividend increase of 17% reflects Charter's continued earnings growth and strong capital position. Pre-tax earnings for 1994 were at an all-time high of $11.4 million, resulting in a return on equity of greater than 15% for the third consecutive year." Charter Bancshares, Inc. is a $830 million multibank holding company Noun 1. multibank holding company - a bank holding company owning several banks bank holding company - a holding company owning or controlling one or more banks headquartered in Houston. Charter has 18 banking offices serving the greater Houston Houston–Sugar Land–Baytown is a 10-county metropolitan area defined by the Office of Management and Budget. It is located along the Gulf Coast region in the U.S. state of Texas. and Galveston markets and also operates Charter Mortgage Company, with 7 production offices in Houston, Austin and Dallas. Charter's common stock is listed for trading on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the ticker SAIL. CONTACT: Charter Bancshares, Inc. Jerry Finger, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. (713) 692-6121 or Morgen-Walke Associates Michele Katz/Jeff Luth Press: Lisa Bradlow (212) 850-5600 |
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