Desert Community Bank Announces $0.12 Cash Dividend.Business Editors VICTORVILLE, Calif.--(BUSINESS WIRE)--July 2, 2003 Ronald L. Wilson Wilson, city (1990 pop. 36,930), seat of Wilson co., E N.C., in a rich agricultural region; inc. 1849. It is a commercial and industrial center with a large tobacco market. Manufactures include textile goods (especially clothing), metal products, and processed foods. , 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. and chairman of the board of Desert Community Bank (Nasdaq:DCBK), announced that a $0.12 dividend was declared de·clare v. de·clared, de·clar·ing, de·clares v.tr. 1. To make known formally or officially. See Synonyms at announce. 2. To state emphatically or authoritatively; affirm. 3. at the bank's board meeting on June June: see month. 24, 2003. The record date is Aug. 22, 2003 and the payable date is Sept. 22, 2003. Outstanding shares are approximately 2,941,272 comprising distribution in the aggregate amount of approximately $352,952.64 plus such additional amounts, if any, which may result from an increase in the number of shares outstanding between this date and the record date by virtue of the exercise of outstanding stock options. In making this announcement, Wilson indicated that this declaration of a cash dividend reflected the board's desire to share the bank's success with shareholders. Additionally, the bank's board was encouraged to maintain the $0.12 pay out, which is what it was on March 31, 2003 despite the recent 2 for 1 stock split. The bank's directors believe that recent changes in Federal tax laws increase the value of a cash dividend. Shareholders will literally walk away with more money in their pocket after taxes. The bank's board also believes that earnings are sufficient to support the bank's asset growth despite the cash dividend to be paid on Sept. 22, 2003. The bank's President and Chief Credit Officer, Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. C. Hughling, was quoted as saying, "The vast quality loan opportunities available to the bank will continue to enhance the revenue stream." The bank's Executive Vice President and Chief Financial Officer, Robert C. Bride This article is about the female participant in a wedding. For other uses, see Bride (disambiguation). A bride is a female participant in a wedding ceremony: a woman about to be married, currently being married, or, in some uses, very recently married. , Jr. stated, "The bank's management and board continue to aggressively manage the bank's net interest margin to maintain earnings at a consistent level." |
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