Pamrapo Bancorp, Inc. (PBCI) on Wednesday said that it cut fourth quarter cash dividend to $0.15 per share from the third quarter level of $0.23 per share. The dividend is payable on December 26, to shareholders of record on December 12, 2008.
The company's President and Chief Executive Officer William Campbell said, "The reduction of our common dividend will help further strengthen Pamrapo's already strong capital position in weathering what is forecasted to become an unprecedented time for the U.S. and global economy."
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