Catskill Financial Announces Quarterly Cash Dividend.CATSKILL, N.Y.--(BUSINESS WIRE)--November 17, 1999--
Catskill Financial Corporation, (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 : CATB) (the "Company"), the parent of Catskill 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. , today announced that its Board of Directors has declared a quarterly cash dividend of $.11 per share. The dividend will be payable on December 17, 1999, to shareholders of record as of the close of business December 1, 1999.
Wilbur J. Cross, Chairman, President, and Chief Executive Officer of Catskill Financial Corporation, stated that "this represents the Company's twelfth consecutive quarterly cash dividend since converting to a public company in April 1996." The dividend equates to a payout ratio Payout Ratio
The percentage of earnings paid out in dividends. It is calculated by dividing dividends per share by earnings per share.
The payout ratio indicates how well earnings support the dividend payments: the lower the ratio, the more secure the dividend. of 36.7% of diluted earnings per common share of $.30 for the quarter ended September 30, 1999.
Catskill Financial Corporation is a unitary unitary
pertaining to a single object or individual. thrift holding company, whose only subsidiary is Catskill Savings Bank. Catskill Savings Bank operates six full-service banking offices, and is the largest banking institution headquartered in Greene County, New York Greene County is a county located in the U.S. state of New York. Its name is in honor of the American Revolutionary War general, Nathanael Greene. Its county seat is Catskill. .