The cash dividend will be distributed on the increased number of shares resulting from the stock dividend.Totowa-based Greater Community Bancorp (Nasdaq: GFLS) has declared a 2.5% stock dividend and a quarterly cash dividend of $0.13 per share on the company’s common stock, both payable July 29, 2005, to shareholders of record on July 15, 2005.
The cash dividend will be distributed on the increased number of shares resulting from the stock dividend. The combined stock and cash dividends represent a 10.83% increase over the cash dividend paid in the first quarter and a projected annual cash dividend of $0.52.
Greater Community Bancorp operates 16 full-service branches in the northern New Jersey counties of Bergen, Passaic and Morris through its three state-chartered commercial bank subsidiaries: Greater Community Bank, Bergen Commercial Bank and Rock Community Bank.
At the close of trading Greater Community Bancorp shares were at $15.90.