Bayonne-based BCB Bancorp Inc. announced Tuesday that its board of directors has approved a cash dividend of $150 for each share of its noncumulative perpetual preferred stock to be paid to preferred stock shareholders on record as of April 2, 2014.
According to the announcement, the cash dividend is payable on April 15, 2014 and represents a 6 percent yield based on the stock’s face value of $10,000.
“This marks the fourth dividend on our preferred stock issuance that was completed as of December 31, 2012. The successful completion of this capital raise has provided us the ability and opportunity to continue to grow and strengthen our balance sheet while we research and execute initiatives that have the potential of increasing franchise and shareholder value,” said CEO Donald Mindiak.
BCB bank currently operates 11 offices in Bayonne, Hoboken, Jersey City, Monroe Township, South Orange and Woodbridge, the announcement said.
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