Cornerstone Bancorp, Inc. Pays Second Quarter 2005 Shareholder Dividend
June 15 2005 - 9:33AM
Business Wire
Merrill J. Forgotson, President of Cornerstone Bancorp, Inc.,
announced that the Board of Directors declared, at its regularly
scheduled meeting, a quarterly cash dividend of $0.1125 per share.
The quarterly dividend is payable on July 15, 2005 to stockholders
of record as of the close of business on June 30, 2005. On March
16, 2005, the Board of Directors declared a quarterly cash dividend
of $0.1125 per share. The dividend was paid on April 15, 2005 to
stockholders of record as of the close of business on March 31,
2005. In Connecticut, Cornerstone Bancorp, through its subsidiary
Cornerstone Bank, operates from three full-service locations in
Stamford, one full-service location in Greenwich, Norwalk and
Westport. The Bancorp also operates one business development office
in Norwalk and four limited service mobile branches. The Bancorp's
common stock is traded on the American Stock Exchange under the
symbol CBN. The statements contained in this press release that are
not historical are "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Examples of such forward-looking statements include, without
limitation, statements regarding expectations for earnings, credit
quality, and other financial and business matters. When used in
this report, the words "anticipate," "plan," "believe," "estimate,"
"expect" and similar expressions as they relate to the Company or
its management are intended to identify forward-looking statements.
All forward-looking statements involve risks and uncertainties.
Actual results may differ materially from those discussed in, or
implied by, the forward-looking statements as a result of certain
factors, including but not limited to, competitive pressures on
loan and deposit product pricing; other actions of competitors;
changes in economic conditions; technological changes; the extent
and timing of actions of the Federal Reserve Board, including
changes in monetary policies and interest rates; customer deposit
disintermediation; changes in customers' acceptance of the Bank's
products and services; and the extent and timing of legislative and
regulatory actions and reforms. The forward-looking statements
contained in this report speak only as of the date on which such
statements are made.
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