Berkshire Bancorp Inc. Declares Cash Dividend in Respect of Its Common Stock
NEW YORK, Nov. 26, 2013
NEW YORK, Nov. 26, 2013 /PRNewswire/ --Berkshire Bancorp Inc. (NASDAQ: BERK)
announced today that its Board of Directors has declared a cash dividend in
respect of the common stock of the Company, in the amount of $.08 per share.
The cash dividend will be paid on December 20, 2013 to the holders of record
of the Company's common stock as of the close of business on December 10,
Moses Marx, Chairman of the Board, noted that this will be the second
consecutive year in which the Company has declared a dividend since the
company announced in March 2009 that it would temporarily suspend its stated
policy of paying a regular cash dividend on the Company's common stock. Mr.
Marx further noted that the declaration, amount and payment of future
dividends will depend upon the results of operation, financial condition and
capital requirements of the Company, as well as such other factors as the
Board deems to be relevant.
Berkshire Bancorp Inc. is a bank holding company headquartered in New York
City. Berkshire Bancorp has one banking subsidiary, The Berkshire Bank, a New
York State chartered commercial bank. The Berkshire Bank has its main office
and branch at 4 East 39^th Street in New York City and ten branches located in
Manhattan, Brooklyn, Orange and Sullivan Counties of New York, and one branch
located in Teaneck, New Jersey.
SOURCE Berkshire Bancorp Inc.
Contact: Dr. Joseph Fink, 212-791-5362
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