Click Cover to Read Digital Edition

AVAILABLE IN THE APP STORE
iPAD APP
iPHONE APP

UPCOMING EVENTS

 
Card Forum & Expo
April 22-25
Hilton Orlando Bonnet Creek
Orlando, Fla.
 
EMERGE: The Forum on Consumer Financial Services Innovation
June 2-4
Hyatt Regency Century Plaza
Los Angeles
 
Digital Banking Summit
June 2-4
Hyatt Regency Century Plaza
Los Angeles
 
2014 RDC Summit
Sept. 30 - Oct. 2
Las Vegas
 
ATM, Debit & Prepaid Forum
October 19-22
JW Marriott Desert Ridge
Phoenix
 
Money2020
November 2-6
Aria
Las Vegas
More events >  

Share |

Print Friendly and PDF

TowneBank Increases Common Stock Dividend by 12.5 Percent

 

Nov 29 - The board of directors of TowneBank, Portsmouth, Va., (Nasdaq:TOWN) has approved a 12.5 percent increase in the quarterly common stock cash dividend to 9 cents per common share, or 36 cents per common share on an annual basis. The board of directors on Nov. 28, 2012, declared its fourth-quarter shareholder cash dividend of 9 cents per common share payable on Dec. 28, 2012, to shareholders of record on Dec. 7, 2012.

Also on Nov. 28, 2012, the board of directors declared a cash dividend of $2.50 per share on its series C fixed-rate non-cumulative perpetual preferred stock. This preferred dividend is payable on Jan. 2, 2013, to the shareholder of record as of Dec. 17, 2012.

This is the fifth quarterly dividend payment to the U.S. Department of the Treasury, the shareholder of record, on the preferred stock issued to it by TowneBank under the Small Business Lending Fund Program.

The amount and declaration of future cash dividends are subject to board of directors' approval in addition to regulatory restrictions.


Back