River City Bank board OKs special dividend

11/15/2012 12:00 AM

11/15/2012 7:49 AM

Sacramento-based River City Bank's board of directors has approved a special cash dividend of 40 cents per common share to shareholders of record as of Nov. 27.

The dividend is payable Dec. 11.

RCB last month announced cash dividends of 10 cents per common share and 79 cents per preferred share, based on its third-quarter net income of $3.2 million.

The bank said the new dividend has special significance as the bank prepares to mark its 40th anniversary in 2013.

"This special cash dividend is symbolically important as it offers one cent for every year River City Bank has been in business," said Steve Fleming, president and CEO.

River City has 13 branches in Sacramento, El Dorado, Placer and Yolo counties.

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