COLLECTIVE BANCORP INCREASES QUARTERLY CASH DIVIDEND
COLLECTIVE BANCORP INCREASES QUARTERLY CASH DIVIDEND EGG HARBOR, N.J., Dec. 12 /PRNewswire/ -- Collective Bancorp, Inc.
(NASDAQ: COFD) has increased the quarterly cash dividend on its common stock from 6 cents to 10 cents per share, it was announced today by Thomas H. Hamilton, president and chief executive officer.
In increasing the dividend, the board of directors retained its existing practice and made the increased dividend payable Jan. 31, 1992, to stockholders of record on Jan. 17. In making the announcement, Hamilton noted, "The board of directors believes that the 67 percent increase in the dividend is warranted at this time in light of Collective's continued strong earnings from its core banking operations. We are especially pleased that the bank's operations have enabled Collective to substantially increase its dividend for the second time within the past 12 months." Collective Bancorp, Inc. is the parent savings and loan holding company for Collective Federal Savings Bank, which operates 57 full- service banking offices in 13 counties throughout New Jersey. /delval/ -0- 12/12/91 /CONTACT: Scott Page of Collective Bancorp, 609-625-1110/ (COFD) CO: Collective Bancorp, Inc. ST: New Jersey IN: FIN SU: DIV
KA-JS -- PH017 -- 1874 12/12/91 10:34 EST
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|Date:||Dec 12, 1991|
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