Cornerstone Bancorp, Inc. Pays Third Quarter 2005 Shareholder Dividend
16 September 2005 - 3:45PM
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 October 17, 2005 to
stockholders of record as of the close of business on September 30,
2005. On June 15, 2005, the Board of Directors declared a quarterly
cash dividend of $0.1125 per share. The dividend was paid on July
15, 2005 to stockholders of record as of the close of business on
June 30, 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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