Cornerstone Bancorp, Inc. Pays Second Quarter 2002 Shareholder Dividend.Business Editors STAMFORD, Conn.--(BUSINESS WIRE)--June 24, 2002 Merrill J. Forgotson, President of Cornerstone Bancorp, Inc., announced that the Board of Directors declared, at its regularly scheduled meeting, a quarterly cash dividend of $0.1125 per share. The quarterly dividend is payable on July 19, 2002 to stockholders of record as of the close of business on July 5, 2002. On June 14, 2002 a 10% common stock dividend was paid to shareholders resulting in 115,628 additional shares being issued. The second quarter cash dividend will also be paid on these additional shares. On February 26, 2002, the Board of Directors declared a quarterly cash dividend of $0.1125 per share. The dividend was paid on April 15, 2002 to stockholders of record as of the close of business on March 29, 2002. In Connecticut, Cornerstone Bancorp, through its subsidiary Cornerstone Bank, operates from four full-service locations in Stamford, one full-service location in Greenwich, Norwalk and Westport. The Bancorp also operates one business development office in Norwalk and four limited service mobile branches. The Bancorp's common stock is traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the symbol CBN CBN - call-by-name . Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: Except for historical information, the matters discussed in this news release that may be considered forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. may be subject to certain risks and uncertainties that could cause the actual results to differ materially from those projected, including uncertainities in the market, pricing competition, procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. , efficiencies and other risks detailed from time to time in the Bancorp's financial statements. The Bancorp assumes no obligation to update the information in this release. |
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