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People’s Bank Declares Dividend
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Business New Haven
2/5/2001
By: BNH
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BRIDGEPORT - Directors of People's Bank (NASDAQ: PBCT) have voted to declare a quarterly dividend on its common stock of 32 cents per share. The dividend is payable February 15 to stockholders of record on February 1. People's Mutual Holdings, which owns 36.5 million shares of People's Bank common stock, will accept $375,000 in dividends, representing payment on 3 percent of its shares.
Said John Klein, president and chief executive officer of the $14 billion diversified financial services company, “We are pleased to reward our shareholders with our 30th consecutive quarterly dividend since 1993, which reflects the board's confidence in the value generated by our growing franchise.'' Based on the closing stock price on January 24 the dividend yield on People's common stock is 4.9 percent.
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