Exchange Bank declares dividend of 70 cents a share

The dividend will pay out about $600,000 to the Doyle Trust, which funds scholarships at SRJC.|
BILL SWINDELL
THE PRESS DEMOCRAT

Exchange Bank has declared a quarterly cash dividend of 70 cents on common stock to shareholders as of Sept. 2, the bank announced Tuesday.

The dividend will be payable on Sept. 16 and remains unchanged from the previous quarter. The dividend has increased from a year ago during the similar quarter when it was at 55 cents per share.

Fifty-one percent of the banks’ overall dividend goes to the Frank P. Doyle and Polly O’Meara Doyle Trust, which provides scholarships to students at Santa Rosa Junior College. This quarter’s dividend will result in about $600,000 to the trust.

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