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Santa Cruz County bank declares dividend

August 27, 2013

Santa Cruz Sentinel

Santa Cruz County Bank announced Thursday a cash dividend of 5 cents per share payable Oct. 10, to stockholders as of the close of business on Sept. 27.S

This is the second cash dividend declared by the locally owned bank, which opened in 2004. The first cash dividend, 5 cents per share, was paid July 10 to shareholders of record as of June 28.

"Our board is pleased to reward and thank our shareholders for their support," said Bank chairman George Gallucci.

Santa Cruz County Bank ranks fifth in market share in Santa Cruz County. National banks rank first, second and fourth.

Wells Fargo and Chase cut dividends to 20 cents per year in 2010. This year Wells Fargo has paid 85 cents per share and Chase 98 cents per share. Bank of America has yet to restore dividends cut in 2009 to 4 cents per share per year.

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