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COMMERCE BANCORP DECLARES REGULAR QUARTERLY CASH DIVIDEND PLUS A 5 PERCENT STOCK DIVIDEND

 COMMERCE BANCORP DECLARES REGULAR QUARTERLY
 CASH DIVIDEND PLUS A 5 PERCENT STOCK DIVIDEND
 CHERRY HILL, N.J., Jan. 22 /PRNewswire/ -- The board of directors of Commerce Bancorp, Inc. (NASDAQ: COBA) declared a regular quarterly cash dividend of $.1125 per share of common stock at its meeting today.
 The dividend is payable Feb. 14, 1992, to shareholders of record Jan. 31.
 Additionally, the board of directors declared a 5 percent stock dividend on the company's common stock outstanding. The dividend is also payable Feb. 14, 1992, to shareholders of record Jan. 31. The cash dividend noted above is not payable on the new common shares created by the 5 percent stock dividend.
 Following the payment of the stock dividend, each share of the company's Series B Cumulative Convertible Preferred Stock will be convertible into 1.2763 shares of common stock.
 Commerce Bancorp, Inc. is a multi-bank holding company headquartered in Cherry Hill, with 30 banking offices. Its three banking subsidiaries are Commerce Bank, N.A., Cherry Hill; Commerce Bank/Pennsylvania, N.A., Philadelphia; and Commerce Bank/Shore, N.A., Forked River, N.J.
 /delval/
 -0- 1/22/92
 /CONTACT: Vernon W. Hill II, chairman and president, or C. Edward Jordan Jr., executive vp, of Commerce Bancorp, 609-751-9000/
 (COBA) CO: Commerce Bancorp, Inc. ST: New Jersey, Pennsylvania IN: FIN SU: DIV


JS-MK -- PH025 -- 2326 01/22/92 12:58 EST
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Publication:PR Newswire
Date:Jan 22, 1992
Words:228
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