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Article: Summit Bancorp Declares Quarterly Dividend, Board Authorizes Expansion of Common Stock Repurchase Program.
- Article from:
- PR Newswire
- Article date:
- August 16, 2000
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PRINCETON, N.J., Aug. 16 /PRNewswire/ --
Summit Bancorp (NYSE: SUB) today declared a quarterly dividend on its common stock of $0.35 (35 cents) per common share, payable November 1, 2000, to shareholders of record on October 5, 2000.
Summit's Board of Directors also expanded its April 15, 1998 common stock repurchase program to authorize the repurchase of up to 11 million shares of Summit Bancorp common stock. The stock will be purchased from time to time on the open market or in private transactions, depending on market conditions. Summit will hold the repurchased stock as treasury shares for reissue for general corporate purposes. The 1998 stock ...