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FORT LEE, N.J., Oct. 29, 2010 (GLOBE NEWSWIRE) -- Bancorp of New Jersey, Inc. (NYSE Amex:BKJ), the bank holding company for Bank of New Jersey, has announced a special cash dividend in the amount $0.33 per share to holders of record as of November 12, 2010. This special cash dividend will be paid on December 20, 2010 and is not considered to be a recurring payment. This special cash dividend is the second cash dividend paid by the Company and follows the Company's $0.30 cash dividend paid in January, 2010, 10% stock distribution in January 2007, and 2:1 stock split in December 2007.
The Board of Directors believes the Company's performance and these dividends are reflective of our commitment to enhanced shareholder value.
Bank of New Jersey, headquartered at 1365 Palisade Avenue, Fort Lee, New Jersey, offers convenient hours and a high level of service for traditional consumer and commercial products and services. The Bank currently has 6 branch offices located in Fort Lee (3 locations), Hackensack, Haworth, and Harrington Park, all in Bergen County, NJ. A seventh location in Englewood is expected to open in 2011.
For more information about Bank of New Jersey and its products and services, please visit
http://www.bonj.net or call 201-944-8600
This press release and other statements made from time to time by Bancorp of New Jersey's management contain express and implied statements relating to our future financial condition, results of operations, credit quality, corporate objectives, and other financial and business matters, which are considered forward-looking statements. These forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from those expected or implied by such forward-looking statements. Risks and uncertainties which could cause our actual results to differ materially and adversely from such forward-looking statements include the current economic crisis affecting the financial industry; volatility in interest rates and the shape of the yield curve; increased credit risks and risks associated with the real estate market; operating, legal, and regulatory risk; economic, political, and competitive forces affecting the company's lines of business; the extent and timing of actions of the Federal Reserve Board; customer acceptance of our products and services; and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission or in other generally disseminated documents. Any statements made that are not historical facts should be considered to be forward-looking statements. You should not place undue reliance on any forward-looking statements. We undertake no obligation to update forward-looking statements or to make any public announcement when we consider forward-looking statements to no longer be accurate, whether as a result of new information of future events, except as may be required by applicable law or regulation.