Pamrapo Bancorp (PBCI) Suspends Dividend on Common Stock
Pamrapo Bancorp, Inc. (NASDAQ: PBCI) announced that its board of directors has decided to suspend the Company's regular cash dividends on its common stock, including the dividend for the third quarter of 2009, until further notice. Interim President and Chief Executive Officer Kenneth D. Walter stated, "Given the uncertain economic climate, as well as the internal challenges that the Company has been facing, the board of directors and management feel that it is prudent and in the best interest of shareholders to preserve our capital in these difficult economic times."
The dividend policy will be regularly assessed by the Company's board of directors and will depend, among other things, on the Company's earnings, obligations and capital resources, and overall market conditions. [SM]
The dividend policy will be regularly assessed by the Company's board of directors and will depend, among other things, on the Company's earnings, obligations and capital resources, and overall market conditions. [SM]
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