CapitalSouth Bancorp Announces Increase in Dividend And Change to a Quarterly Payment Schedule.BIRMINGHAM, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. . -- The Board of Directors of CapitalSouth Bancorp, (NASDAQ/NM:CAPB CAPB Curriculum and Assessment Policy Branch ), on May 15, 2006 voted to change from a semi-annual to a quarterly dividend program. At the same meeting, the Board declared a quarterly dividend of $.06 per share to shareholders of record as of June 30, 2006. The dividend, payable July 17, 2006, if 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. represents a 20% increase over the amount declared in 2005. In commenting on the Board's action, Chairman and Chief Executive Officer, W. Dan Puckett stated, "We have traditionally paid dividends to our shareholders on a semi-annual basis. The Board believes that now that CapitalSouth Bancorp is publicly traded it is important to pay our shareholders more frequently and accordingly unanimously voted to change to a quarterly dividend." CapitalSouth Bancorp noted that it intends to announce the record and payment dates for its next quarterly dividend in September, with the expectation that payment of the dividend will occur in October. CapitalSouth Bancorp, through its bank subsidiaries CapitalSouth Bank and Capital Bank, provides a broad range of commercial banking services and products in the Birmingham, Huntsville and Montgomery, Alabama Montgomery is the capital and second most populous city of the U.S. state of Alabama and the county seat of Montgomery County. Montgomery is notable for its historic involvement during the Civil War, for being the first capital of the Confederacy, and for being a primary site in and Jacksonville, Florida “Jacksonville” redirects here. For other uses, see Jacksonville (disambiguation). Jacksonville is the largest city in the state of Florida and the county seat of Duval County. markets. Additional information is available at www.capitalsouthbank.com. This press release contains "forward-looking" statements as defined by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, which is based on CapitalSouth's current expectations, estimates and projections about future events and financial trends affecting the financial condition of its business. These statements are not historical facts or guarantees of future performance, events, or results. Such statements involve potential risks and uncertainties and, accordingly, actual performance results may differ materially. CapitalSouth undertakes no obligation to publicly update or revise forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , whether as a result of new, updated information, future events, or otherwise. |
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