El Dorado Bancorp Will Pay First Cash Dividend in 10 Years
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El Dorado Bancorp said that for the first time since 1976, it will pay its regular quarterly dividend of 5 cents per share in cash.
The Tustin-based parent of El Dorado Bank has paid most previous dividends in common stock. The 14-year-old company has about 1.7 million shares outstanding.
The company hopes to continue paying regular quarterly dividends in cash, said J. B. Crowell, president and chief executive.
As reported previously, El Dorado said it anticipates record 1986 net income of $1.8 million, compared to 1985 net income of $1.4 million and 1982 net income of $1.7 million, the company’s previous best performance.
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