American Bancorp of New Jersey, Inc. Announces Results of Annual Meeting and Quarterly Dividend
February 28 2007 - 12:01PM
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 annual meeting of
shareholders held on February 27, 2007. At the annual meeting,
shareholders elected two directors for four-year terms that expire
with the 2011 annual meeting: James H. Ward, III, Vice Chairman of
the Board and Robert A. Gaccione. The Company's directors
continuing in office to future years include: Chairman W. George
Parker, H. Joseph North, 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 ratified the appointment of Crowe Chizek
and Company LLC as the Company's independent registered public
accounting firm for 2007. 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 March 12, 2007
payable on or about March 26, 2007. 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 its branch locations in Cedar Grove and
Verona, New Jersey. The foregoing material contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 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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