Posted: Wednesday, December 24, 2008 12:00 am
Citizens Bancorp, the holding company for Citizens Bank, on Dec. 16 declared a cash dividend equal to $.55 per share.
The cash dividend, announced at a meeting of the company's board of directors, will be paid on all shares of common stock held on December 29, 2008. It will be paid paid in cash on or before January 10, 2009. Holders of Preferred 'A' stock will be paid $.588 per share, representing a 7 percent premium, over the amount paid on common shares.
"Citizens Bank has experienced another highly productive year in 2008, and we are pleased to be in a position to share this productivity with our shareholders in the form of a cash dividend. This dividend is equal to the highest amount we have ever paid on a per share basis," said Bill Humphreys Sr., President and CEO of Citizens Bancorp.
Citizens Bank, a wholly owned subsidiary of Citizens Bancorp, is a full service community Bank, (chartered in 1957), with offices in Corvallis, Albany, Philomath, Junction City, Springfield, Harrisburg, McMinnville, Dallas, and Lebanon.