Cohoes Bancorp, Inc. Announces Increased Quarterly Cash Dividend.Business Editors COHOES Cohoes (kəhōz`), city (1990 pop. 16,825), Albany co., E N.Y., near Albany, at the confluence of the Mohawk and Hudson rivers; settled by the Dutch 1665, inc. 1869. , N.Y.--(BUSINESS WIRE)--January 20, 2000 Cohoes Bancorp, 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 : COHB) (the &uot;Company&uot;), parent company of Cohoes 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. , announced today that its Board of Directors declared a cash dividend of $.07 per share on the common stock of the Company payable on February 18, 2000 to shareholders of record at the close of business on February 4, 2000. The $.07 dividend per share represents a 16.7% increase over the previous quarterly cash dividend. In announcing the increased quarterly cash dividend, Cohoes Bancorp's President and Chief Executive Officer Harry Robinson said, &uot;The increased dividend is an indication of the Company's strong financial position and solid core earnings.&uot; The Company is a unitary holding company which owns all of the capital stock of Cohoes Savings Bank, which maintains a network of 21 full service branch offices in upstate New York Upstate New York is the region of New York State north of the core of the New York metropolitan area. It has a population of 7,121,911 out of New York State's total 18,976,457. Were it an independent state, it would be ranked 13th by population. . On December 31, 1999, the Company had $708.9 million in assets and $130.0 million in stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. . |
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