Central Bank establishes policy for the payment of quarterly cash dividends.

SOMERVILLE Somerville.

1 City (1990 pop. 76,210), Middlesex co., E Mass., a residential and industrial suburb of Boston, on the Mystic River; settled 1630, set off from Charlestown 1842, inc. as a city 1871. , Mass.--(BUSINESS WIRE)--Oct. 30, 1996--In light of its strong earnings and financial condition, Central Co-operative Bank The Co-operative Bank is a co-operative bank trading in the United Kingdom with headquarters in Manchester, UK. It is an ethical bank, and refuses to invest in companies involved in the arms trade, genetic engineering, animal testing and use of sweated labour as stated in its (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 :CEBK) today announced that its board of directors has established a policy of paying quarterly cash dividends.

The initial cash dividend will be in the amount of $.08 per share payable on Nov. 15, 1996 to stockholders of record at the close of business on Nov. 8, 1996.

John D. Doherty

for people named Doherty see: Doherty (disambiguation)

The Doherty Clan (Irish: Clann Ua Dochartaigh) is an Irish clan based in County Donegal in the north of the island of Ireland. , president of the bank, stated: "Payment of a quarterly cash return on stockholders' investment in Central Bank is consistent with the board of directors' commitment to enhancing stockholder value and is appropriate now in light of the bank's strong financial condition and increasing profitability. We are pleased to be able to implement a quarterly cash dividend policy and will continue to focus our future efforts on enhancing stockholder value." Doherty noted that while the board of directors has adopted this policy, the future payment of dividends is dependent upon the bank's financial condition, earnings, capital needs, regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. and economic conditions.

Central Bank is a Massachusetts-chartered co-operative bank operating eight full-service banking offices in suburban Boston.

CONTACT: Gladys N. Partamian

617/628-4000

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Publication:	Business Wire
Date:	Oct 30, 1996
Words:	192
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