Suffolk Bancorp (the “Company”) (NASDAQ: SUBK) today announced that the Board of Directors, at its regular meeting yesterday, appointed Ramesh N. Shah as director of Suffolk Bancorp and its subsidiary, Suffolk County National Bank. As previously announced, Susan V.B. O’Shea, will be retiring from the Boards of the Company and the Bank on the day prior to the 2013 annual meeting of the Company’s Shareholders. Mr. Shah is currently on the boards of directors of Cardon Outreach, a national provider of revenue cycle management services to hospitals and health service providers, and Safety Services, a leading supplier of OSHA compliant safety products. Mr. Shah enjoyed a career at Greenpoint Bank as CEO of Retail Banking from 1996 to 2004 and prior thereto held senior executive positions at Shearson Lehman Brothers and American Express. Chairman Joseph A. Gaviola remarked, “We are very pleased to welcome Ramesh to our Board of Directors. With his wide range of experience at both large companies and in community banking, we know Ramesh will add considerable expertise to our Board. His proven success and expertise in retail banking, marketing, capital markets, management and technology will bring significant value to our deliberations and we look forward to working with him in the years to come.” Howard C. Bluver, President and Chief Executive Officer of the Company added, “I am thrilled that Ramesh has agreed to join our Board of Directors. Having worked directly with Ramesh for a number of years in community banking, I know firsthand the expertise and industry savvy he will bring to our Company. No one understands the challenges faced by banks in the current economic and interest rate environments better than Ramesh, and I look forward to getting his advice and counsel in many areas as we move forward with our growth plans.” Mr. Gaviola concluded, “On behalf of the Board of Directors, I want to thank Susan O’Shea for over a decade of dedicated service to our company. Susan’s focused insight and many contributions to our Bank and its business community are noted and most appreciated as she retires and spends less time on Long Island. We wish her nothing but the very best in the years to come.”
Looking at the universe of stocks we cover at Dividend Channel, on 2/9/15, Suffolk Bancorp will trade ex-dividend, for its quarterly dividend of $0.06, payable on 2/25/15. As a percentage of SUBK's recent stock price of $23.52, this dividend works out to approximately 0.26%.