Printer Friendly

FRANKLIN BANK TO PAY FIRST CASH DIVIDEND ON COMMON STOCK

 SOUTHFIELD, Mich, April 22 /PRNewswire/-- Franklin Bank's (NASDAQ-NMS: FSVB) Board of Directors today declared the payment of the first cash dividend to common shareholders in the bank's history. A dividend of $0.05 per share will be paid on May 25, 1993, to shareholders of record as of May 15, 1993.
 "We appreciate the support of our shareholders and believe that Franklin is now in a position to give our shareholders a greater return on their investment," said Read P. Dunn, president and CEO. "Based on a 44-percent increase in first-quarter earnings and prospects for the remainder of 1993, we anticipate this is the beginning of a regular quarterly cash dividend," Dunn continued. Franklin previously paid a stock dividend to its common shareholders in 1992.
 In addition to the declaration of its first cash dividend, Franklin also announced it is currently considering the implementation of a dividend reinvestment plan.
 Franklin Bank had assets of $381 million at March 31, 1993. The bank is headquartered in Southfield and primarily serves small to medium-sized business customers and affluent individual customers in southeastern Michigan via three regional branches located in Southfield, Birmingham and Grosse Pointe Woods.
 -0- 4/22/93
 /CONTACT: Rebecca J. Christian or Lisa Hudy of Franklin Bank, 313-358-6462, or 800-356-8910 (outside Michigan).
 (FSVB)


CO: Franklin Bank ST: Michigan IN: FIN SU: DIV

ML -- DE014 -- 9261 04/22/93 09:53 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 22, 1993
Words:231
Previous Article:ADVANCE ECONOMIC BAROMETER SLIPS IN MARCH
Next Article:AMAX GOLD RECORDS FIRST QUARTER LOSS
Topics:


Related Articles
FRANKLIN BANK DECLARES FIRST STOCK DIVIDEND
FRANKLIN BANK DECLARES SIXTH CONSECUTIVE PREFERRED STOCK DIVIDEND
FRANKLIN BANK DECLARES THIRD CONSECUTIVE CASH DIVIDEND ON COMMON STOCK
FRANKLIN BANK DECLARES REGULAR QUARTERLY AND SPECIAL DIVIDEND ON COMMON STOCK
FRANKLIN BANK INCREASES COMMON STOCK CASH DIVIDEND 20%
FRANKLIN BANK DECLARES REGULAR QUARTERLY AND SPECIAL 5% STOCK DIVIDEND ON COMMON STOCK
FRANKLIN BANK DECLARES NINTH CONSECUTIVE CASH DIVIDEND ON COMMON STOCK
FRANKLIN BANK DECLARES TENTH CONSECUTIVE CASH DIVIDEND ON COMMON STOCK
Franklin Bank Declares Fifteenth Consecutive Cash Dividend On Common Stock
First Indiana Corporation Announces Dividend.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters