Commerce Bancorp Increases Cash Dividend 15%.Business Editors CHERRY HILL Cherry Hill, township (1990 pop. 69,319), Camden co., W central N.J.; name was changed from Delaware township to Cherry Hill in 1961. Largely residential, Cherry Hill has been marked by great development and housing growth, especially since the 1970s. , N.J.--(BUSINESS WIRE)--Dec. 16, 2003 Commerce Bancorp This article is about the bank headquartered in Cherry Hill, New Jersey. For other uses, see Commerce Bank. Commerce Bancorp (NYSE: CBH), doing business as Commerce Bank , Inc. (NYSE NYSE See: New York Stock Exchange :CBH CBH cutaneous basophil hypersensitivity. ) declared a 15% increase in its annual cash dividend rate from $.66 per share to $.76 per share of common stock, it was announced today by Vernon W. Hill, II, Chairman of the multi-bank holding company based here. Said Hill, "this is the twelfth consecutive year of cash dividend increases. Over the last five years our dividend has increased 90%. Increasing shareholder value through both dividend increases and price appreciation remains a basic tenet of Commerce Bancorp." The quarterly dividend of $.19 is payable January 20, 2004 to shareholders of record January 6, 2004. In addition, effective January 1, 2004, the optional cash purchase amount under the Company's dividend reinvestment Reinvestment Using dividends, interest and capital gains earned in an investment or mutual fund to purchase additional shares or units, rather than receiving the distributions in cash. 1. In terms of stocks, it is the reinvestment of dividends to purchase additional shares. and stock purchase plan will be raised to $10,000 per month. The plan provides for the reinvestment of quarterly cash dividends on Commerce Bancorp, Inc. common stock as well as optional cash purchases of Commerce Bancorp, Inc. common stock, on a monthly basis, at a 3% discount (subject to change) to the market price and no brokerage commissions (subject to change). Commerce Bancorp, Inc. is a $22.0 billion multi-bank holding company headquartered in Cherry Hill, New Jersey with 270 banking offices serving New Jersey, Pennsylvania, Delaware, New York Delaware is a town in Sullivan County, New York, USA. The population was 2,719 at the 2000 census. The Town of Delaware is in the western part of the county. History The town was formed in 1869 from the Town of Cochecton. , and augmented by Commerce Insurance Services, Inc. and Commerce Capital Markets, Inc. |
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