BCB Bancorp, Inc., Bayonne, NJ (NASDAQ:BCBP) announced a quarterly cash dividend of $0.12 per common share for the fiscal quarter ended December 31, 2011. The record date has been established as February 7, 2012, with a payable date of February 17, 2012.
Donald Mindiak, President & CEO commented that, “the $0.12 cash dividend represents the Board of Directors’ and Managements’ confidence to provide a competitive return to our shareholders while remaining consistent with our philosophy of providing our shareholders a return on equity that is comparable to our peers. The Allegiance Community Bank transaction was completed in the fourth quarter and the integration of the Allegiance franchise is almost complete. We anticipate a computer systems conversion late in the first quarter which will complete the transaction in its entirety. We are encouraged by the quality of the personnel that has joined our staff and the markets that we have entered by virtue of this transaction and look forward to offering our products and services to customers in our broader market.”
Mr. Mindiak continued, “the acquisition of Pamrapo in 2010 and Allegiance in 2011 is a testament to our shareholders that the Board and Management remains committed to taking advantage of opportunities that increase franchise and shareholder value and executing transactions when economic synergies of efficiency can be realized.”
Forward-looking Statements and Associated Risk FactorsThis release, like many written and oral communications presented by BCB Bancorp, Inc., and our authorized officers, may contain certain forward-looking statements regarding our prospective performance and strategies 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. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and are including this statement for purposes of said safe harbor provisions.