American Bancorp of New Jersey, Inc. Announces Results of Annual Meeting and Quarterly Dividend
May 24 2006 - 3:11PM
Business Wire
American Bancorp of New Jersey, Inc. (NASDAQ: ABNJ) (the
"Company"), the holding company of American Bank of New Jersey (the
"Bank"), announced the results of its first annual meeting of
shareholders since becoming a full stock company in October 2005.
At the annual meeting, shareholders elected two directors for
four-year terms that expire with the 2010 annual meeting: W. George
Parker, Chairman of the Board and H. Joseph North. The Company's
directors continuing in office to future years include: Robert A.
Gaccione, James H. Ward, III, Vincent S. Rospond, Stanley Obal,
Joseph Kliminski, Chief Executive Officer, and Fred G. Kowal,
President and Chief Operating Officer. In other formal business
conducted at the meeting, shareholders approved the American
Bancorp of New Jersey, Inc. 2006 Equity Incentive Plan and ratified
the appointment of Crowe Chizek and Company LLC as the Company's
independent registered public accounting firm for 2006. Separately,
the Company announced today that its Board of Directors has
declared a quarterly cash dividend of $0.04 per share to
stockholders of record as of June 12, 2006 payable on or about June
23, 2006. The cash dividend is being paid to provide a return to
stockholders, after considering the equity and profitability of the
Company and the Bank. The payment of future dividends will be
subject to the Board's periodic review of the financial condition,
earnings, and capital requirements of the Company and the Bank. The
Bank is a federally chartered stock savings bank which conducts
business from its main office in Bloomfield, New Jersey and one
branch office in Cedar Grove, New Jersey. The foregoing material
contains forward-looking statements concerning our financial
condition, results of operations and business. We caution that such
statements are subject to a number of uncertainties and actual
results could differ materially, and, therefore, readers should not
place undue reliance on any forward-looking statements. We do not
undertake, and specifically disclaim, any obligation to publicly
release the results of any revisions that may be made to any
forward-looking statements to reflect the occurrence of anticipated
or unanticipated events or circumstances after the date of such
statements.
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