COMMUNITY BANCORP, INC. DECLARES QUARTERLY CASH DIVIDEND
COMMUNITY BANCORP, INC. DECLARES QUARTERLY CASH DIVIDEND MONROEVILLE, Pa., Nov. 25 /PRNewswire/ -- Community Bancorp, Inc.
(NASDAQ: CBPA) announced today that its board of directors has declared a regular quarterly cash dividend on its common stock of $0.05 per share. The dividend is payable Jan. 3, 1992, to stockholders of record at the close of business on Dec. 4, 1991. In declaring this dividend, Community Bancorp, Inc. is changing the timing of its regular quarterly dividends in conjunction with its proposed acquisition by USBANCORP, Inc.
"This dividend is a reflection of our continued strong financial condition and our commitment to provide a stable return to our stockholders," said Kenneth J. Tyson, president and chief executive officer. It is the policy of the board of directors to pay regular cash dividends of $0.05 per quarter. Community Bancorp, Inc. is the parent holding company of Community Savings Association, which converted to the stock form of ownership in November 1988. In connection with such conversion, Community Bancorp, Inc. issued 1,495,000 shares at $6.50 per share. Community Savings Association maintains 12 full-service offices in the greater Pittsburgh metropolitan area. -0- 11/25/91 /CONTACT: John A. Howard Jr., senior vice president and chief financial officer, Community Bancorp, Inc., 412-242-6011/ (CBPA) CO: Community Bancorp, Inc. ST: Pennsylvania IN: FIN SU: DIV
SM -- PG005 -- 6718 11/25/91 09:53 EST
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|Date:||Nov 25, 1991|
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