Citizens Banking Corp. declares third quarter 1996 cash dividend.FLINT flint, mineral flint, variety of quartz that commonly occurs in rounded nodules and whose crystal structure is not visible to the naked eye. Flint is dark gray, smoky brown, or black in color; pale gray flint is called chert. , Mich.--(BUSINESS WIRE)--Oct. 18, 1996--Today, the Citizens Banking Corp. board of directors declared a cash dividend of 26 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. of common stock. The cash dividend is payable on Nov. 6, 1996 to shareholders of record on Oct. 28, 1996. As reported on Oct. 11, 1996, Citizens earned net income of $9,603,000 for the three months ended Sept. 30, 1996, up 6.9 percent from the same period of 1995. During the third quarter of 1996, fully diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of were 65 cents, up 6.6 percent from 1995. For the nine months ended Sept. 30, 1996, Citizens earned $27,604,000, up 15.8 percent from the same period in 1995. Earnings per share were $1.88 per fully diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, up 15.3 percent from 1995. Citizens Banking Corp. provides a full range of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to a broad customer base. Citizens operates 92 offices throughout Michigan and in suburban Chicago. CONTACT: Citizens Banking Corp., Flint John W. Ennest, 810/257-2557 |
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