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Article: Santa Barbara Bancorp increases dividend.
- Article from:
- Business Wire
- Article date:
- December 20, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SANTA BARBARA, Calif.--(BUSINESS WIRE)--Dec. 20, 1996--The board of directors of Santa Barbara Bancorp (NASDAQ:SABB), parent company of Santa Barbara Bank & Trust, announced an increase in the quarterly dividend of 11 percent from 18 cents to 20 cents per share.
The dividend will be payable Feb. 11, 1997, to shareholders of record on Jan. 21, 1997.
According to Tom Thomas, president and chief executive officer of Santa Barbara Bank & Trust, the board increased the dividend in recognition of four successive quarters of record income. Net income for each of those quarters was higher than for the same quarter in any prior year.
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