BAYONNE, N.J. -- (Business Wire)
BCB Bancorp, Inc., Bayonne, N.J. (NASDAQ: BCBP) announced a quarterly
cash dividend of $0.12 per common share for the fiscal quarter ended
June 30, 2012. The record date has been established as August 6, 2012,
with a payable date of August 16, 2012.
Donald Mindiak, President & CEO commented that, “the declaration of this
dividend represents the twenty-second consecutive quarter that we have
declared and paid a cash dividend and the fifteenth consecutive quarter
that dividend has been $0.12 per common share. Despite uncertain, and at
times turbulent economic conditions, we have been able to continue to
provide a competitive return to our shareholders while executing
corporate initiatives that have had the capacity of increasing franchise
and shareholder value. For example, the continuing successful execution
of our Stock Repurchase Plan continues to provide market price support,
while reducing cash dividends and increasing earnings per share.”
Mr. Mindiak continued, “The previously disclosed recent disposition of a
sub-set of our non-performing loan portfolio has provided relief from
certain facility legacy expenses and allows for the redeployment of the
proceeds of that sale into interest-earning assets. These and other
initiatives continue to be researched and executed for the benefit of
our shareholders.”
Forward-looking Statements and Associated Risk Factors
This 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.
Forward-looking statements, which are based on certain assumptions and
describe future plans, strategies, and expectations of the Company, are
generally identified by use of the words “anticipate,” “believe,”
“estimate,” “expect,” “intend,” “plan,” “project,” “seek,” “strive,”
“try,” or future or conditional verbs such as “could,” “may,” “should,”
“will,” “would,” or similar expressions. Our ability to predict results
or the actual effects of our plans or strategies is inherently
uncertain. Accordingly, actual results may differ materially from
anticipated results.
There are a number of factors, many of which are beyond our control,
that could cause actual conditions, events, or results to differ
significantly from those described in our forward-looking statements.
These factors include, but are not limited to: general economic
conditions and trends, either nationally or in some or all of the areas
in which we and our customers conduct our respective businesses;
conditions in the securities markets or the banking industry; changes in
interest rates, which may affect our net income, prepayment penalties
and other future cash flows, or the market value of our assets; changes
in deposit flows, and in the demand for deposit, loan, and investment
products and other financial services in the markets we serve; changes
in the financial or operating performance of our customers’ businesses;
changes in real estate values, which could impact the quality of the
assets securing the loans in our portfolio; changes in the quality or
composition of our loan or investment portfolios; changes in competitive
pressures among financial institutions or from non-financial
institutions; changes in our customer base; potential exposure to
unknown or contingent liabilities of companies targeted for acquisition;
our ability to retain key members of management; our timely development
of new lines of business and competitive products or services in a
changing environment, and the acceptance of such products or services by
our customers; any interruption or breach of security resulting in
failures or disruptions in customer account management, general ledger,
deposit, loan or other systems; any interruption in customer service due
to circumstances beyond our control; the outcome of pending or
threatened litigation, or of other matters before regulatory agencies,
or of matters resulting from regulatory exams, whether currently
existing or commencing in the future; environmental conditions that
exist or may exist on properties owned by, leased by, or mortgaged to
the Company; changes in estimates of future reserve requirements based
upon the periodic review thereof under relevant regulatory and
accounting requirements; changes in legislation, regulation, and
policies, including, but not limited to, those pertaining to banking,
securities, tax, environmental protection, and insurance, and the
ability to comply with such changes in a timely manner; changes in
accounting principles, policies, practices, or guidelines; operational
issues stemming from, and/or capital spending necessitated by, the
potential need to adapt to industry changes in information technology
systems, on which we are highly dependent; the ability to keep pace
with, and implement on a timely basis, technological changes; changes in
the monetary and fiscal policies of the U.S. Government, including
policies of the U.S. Treasury and the Federal Reserve Board; war or
terrorist activities; and other economic, competitive, governmental,
regulatory, and geopolitical factors affecting our operations, pricing
and services.
It should also be noted that the Company occasionally evaluates
opportunities to expand through acquisition and may conduct due
diligence activities in connection with such opportunities. As a result,
acquisition discussions and, in some cases, negotiations, may take place
in the future, and acquisitions involving cash, debt, or equity
securities may occur. Furthermore, the timing and occurrence or
non-occurrence of these events may be subject to circumstances beyond
the Company’s control.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
release. Except as required by applicable law or regulation, the Company
undertakes no obligation to update these forward-looking statements to
reflect events or circumstances that occur after the date on which such
statements were made.
Contacts:
BCB Bancorp, Inc.
Donald Mindiak, President/CEO
or
Kenneth
Walters, CFO
201-823-0700
Source: BCB Bancorp, Inc.