Porter Bancorp, Inc. Declares Cash Dividend
December 09 2010 - 4:30PM
Business Wire
Porter Bancorp, Inc. (NASDAQ: PBIB), parent company of
PBI Bank, announced today that its Board of Directors declared
a cash dividend of $0.01 per share. The dividend is payable on
January 3, 2011, to shareholders of record as of December 20,
2010.
“Our Board of Directors declared a $0.01 cash dividend in
addition to a 5% stock dividend that was announced earlier this
month,” stated Maria L. Bouvette, President and CEO of Porter
Bancorp, Inc. “Our Board continues to balance the value of our
dividend program and our continuous dividend payment history with
maintaining our strong capital position during this weak economic
environment. We expect to evaluate our dividend program on an
ongoing basis so it is consistent with protecting our capital base
and our expectations for Porter Bancorp’s earnings and changes in
the economy.”
About Porter Bancorp, Inc.
Porter Bancorp, Inc., a bank holding company headquartered in
Louisville, Kentucky, had $1.7 billion in assets as of
September 30, 2010. Through Porter’s subsidiary PBI Bank, it
operates 18 full service banking offices in Kentucky. Porter
Bancorp’s common stock is traded on the Nasdaq Global Market under
the symbol “PBIB.”
Forward-Looking Statements
Statements in this press release relating to Porter Bancorp’s
plans, objectives, expectations or future performance are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based on management’s current expectations. Porter
Bancorp’s actual results in future periods may differ materially
from those currently expected due to various risks and
uncertainties, including those discussed under “Risk Factors” in
the Company’s Form 10-K and subsequent periodic reports filed with
the Securities and Exchange Commission. The forward-looking
statements in this press release are made as of the date of the
release and Porter Bancorp does not assume any responsibility to
update these statements.
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