MASB Massbank Corp Read Mass (MM)

MASSBANK Corp (NASDAQ - MASB), the Holding Company for MASSBANK, announced today that its Board of Directors has authorized an increase in the Company�s quarterly cash dividend to stockholders, from $0.27 to $0.28 per common share. The increase will raise the annualized dividend from $1.08 to $1.12 per share. This, the Company�s eighty-first consecutive dividend, will be payable on November 16, 2006 to stockholders of record at the close of business on November 1, 2006. The Company also announced today that its Board of Directors has extended for another year, the stock repurchase program which it authorized in October of last year. Additionally, the Board approved an increase of 50,000 in the number of shares of the Company�s common stock authorized for repurchase in the current program, bringing the total shares available for repurchase to 130,217 during the next twelve months. During the three months ended September 30, 2006, the Company continued the repurchase of its common stock by acquiring 10,000 shares in the open market. MASSBANK Corp (NASDAQ - MASB), the Holding Company for MASSBANK, announced today that its Board of Directors has authorized an increase in the Company's quarterly cash dividend to stockholders, from $0.27 to $0.28 per common share. The increase will raise the annualized dividend from $1.08 to $1.12 per share. This, the Company's eighty-first consecutive dividend, will be payable on November 16, 2006 to stockholders of record at the close of business on November 1, 2006. The Company also announced today that its Board of Directors has extended for another year, the stock repurchase program which it authorized in October of last year. Additionally, the Board approved an increase of 50,000 in the number of shares of the Company's common stock authorized for repurchase in the current program, bringing the total shares available for repurchase to 130,217 during the next twelve months. During the three months ended September 30, 2006, the Company continued the repurchase of its common stock by acquiring 10,000 shares in the open market.