Reliance Bancorp Increases Cash Dividend by 15% for Fiscal Year 1995

Strategic Insights -

Reliance Bancorp, Inc., a holding company for Reliance Federal Savings Bank, has announced a 15% increase in its regular cash dividend for the quarter ending September 30, 1995. The new dividend of $0.115 per common share is up from the previous quarter's dividend of $0.100. This increase reflects the company's strong financial position and commitment to building stockholder returns. Chairman and Chief Executive Officer, Raymond L. Nielsen, attributes the decision to the company's continued profitability.

Key Takeaways:

  • Reliance Bancorp, Inc. has increased its regular cash dividend by 15% for the quarter ending September 30, 1995.
  • The new dividend of $0.115 per common share is payable on October 20, 1995, to stockholders of record on October 6, 1995.
  • The increase in dividend reflects the company's strong financial position and commitment to building stockholder returns.
  • Reliance Bancorp operates 17 branch facilities in the New York City metropolitan areas of Queens and Nassau.
  • The company specializes in providing deposit and credit services for its communities.

Statistics:

  • Dividend increase: 15%
  • New dividend per common share: $0.115
  • Previous dividend per common share: $0.100
  • Number of branch facilities: 17
  • Percentage increase in cash dividend: 15% from the first quarter of fiscal year 1995.

Sources:

  • "Reliance Bancorp, Inc. Announces Regular Cash Dividend" (Business Wire, September 20, 1995)
  • Reliance Bancorp, Inc. press release (September 20, 1995)