NEW YORK, Jan. 7, 2015 /PRNewswire/ -- Berkshire Bancorp Inc. (OTC QB: BERK) announced today that its Board of Directors has declared a cash dividend in respect of the common stock of the Company, in the amount of $.10 per share. The cash dividend will be paid on January 22, 2015 to the holders of record of the Company's common stock as of the close of business on January 12, 2015.
Moses Marx, Chairman of the Board, noted that this is the third declaration and payment of a cash dividend on the Company's common stock since March 2009 when the Company temporarily suspended its stated policy of paying a regular cash dividend. Mr. Marx further noted that the declaration, amount and payment of future dividends will depend upon the results of operation, financial condition and capital requirements of the Company, as well as such other factors as the Board deems to be relevant.
Berkshire Bancorp Inc. is a bank holding company headquartered in New York City. Berkshire Bancorp has one banking subsidiary, The Berkshire Bank, a New York State chartered commercial bank. The Berkshire Bank has its main office and branch at 4 East 39(th) Street in New York City and ten branches located in Manhattan, Brooklyn, Orange and Sullivan Counties of New York, and one branch located in Teaneck, New Jersey.
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SOURCE Berkshire Bancorp Inc.
