Suffolk Bancorp's board of directors approves quarterly dividend of

Long Island Business News, Aug 29, 2006 by David Reich-Hale

Suffolk Bancorp said Tuesday its board of directors approved a quarterly dividend of 22 cents per share.

The dividend, approved at the board's Monday meeting, will be payable to all shareholders on record as of Sept. 15. It will be payable on Oct. 2.

Suffolk Bancorp (Nasdaq: SUBK) shares traded at $33.68 in midday trading Tuesday. At that price, shares are solidly between the 52- week high of $37 and their low for that period, $27.01.

Back in July, the bank reported that second-quarter net income rose to $5.6 million, a 6-percent increase. The company said earnings-per-share hit 55 cents, 10 percent above the 50 cents for the same period a year prior. However, part of that increase came because the company bought back shares.