Community Savings declares dividend for third fiscal quarter.NORTH PALM BEACH, Fla.--(BUSINESS WIRE)--July 5, 1995--James B. Pittard Jr., president and chief executive officer of Community Savings, F.A. ("Community Savings") (NASDAQ/NMS:CMSV CMSV Collgeg of Mount Saint Vincent (Riverdale, NY) ) announced Wednesday Wednesday: see week. that Community Savings' board of directors has declared a regular cash dividend of $.15 per share on Community Savings' common stock for the fiscal quarter ended June 30, 1995. The dividend will be payable to shareholders of record as of July 18, and will be paid on Aug. 1. Community Savings' mutual holding company, ComFed, M.H.C., which owns 2,620,144 of the 5,000,000 shares of Community Savings' common stock outstanding at June 30, has announced that it has waived its right to receive the dividend. Accordingly, the dividend will be paid on the remaining 2,379,856 shares of common stock outstanding. On Oct. 24, 1994, Community Savings closed its initial public stock offering. As part of the stock offering, Community Savings sold 2,379,856 shares of its common stock to the public, and issued 2,620,144 shares of its common stock to ComFed, M.H.C. ComFed, M.H.C. does not engage in any business activity other than holding Community Savings' common stock. Community Savings' board of directors has determined to fund the 1995 Recognition and Retention Plan for Employees and Outside Directors through issuance of 88,900 shares from authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: but unissued shares. It is expected that such shares shall be issued on or before July 18. Community Savings, chartered in 1955, is a federal savings and loan association Federal Savings and Loan Association An institution chartered by the federal government whose primary function is to collect savings deposits and to provide mortgage loans. headquartered in North Palm Beach, and has 17 full service offices throughout Palm Beach, Martin and St. Lucie St. Lucie may refer to:
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. of $70.8 million. Community Savings' common stock trades on the Nasdaq National Market under the symbol "CMSV." CONTACT: Community Savings, F.A., North Palm Beach James B. Pittard Jr., President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. or Larry J. Baker, Senior Vice President and Treasurer 407/881-4800 |
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