Bancorp of New Jersey, Inc. Announces Quarterly Cash Dividend and Dividend Reinvestment Plan

Published on Thursday, 09 February 2012 14:36 Written by TradersHuddle Staff

FORT LEE, N.J., Feb. 9, 2012 (GLOBE NEWSWIRE) -- Bancorp of New Jersey, Inc. (NYSE AMEX:BKJ), holding company for Bank of New Jersey, announced today that its board of directors has approved the company's intention to pay a quarterly cash dividend to its shareholders, and has declared an initial quarterly dividend of $0.06 per share, payable on March 31, 2012 to shareholders of record at the close of business on February 29, 2012. While future dividends will be subject to approval by the company's board of directors, Bancorp of New Jersey is initially targeting an aggregate annual dividend payout of $0.24 per share, with future quarterly payments in June, September and December 2012.

In connection with Bancorp of New Jersey's new dividend policy, the company's transfer agent, American Stock Transfer & Trust Company, LLC (AST), is establishing and will administer a dividend reinvestment plan. Shareholders may contact AST at: 1-888-483-5130 or www.amstock.com for additional information.

Bank of New Jersey, headquartered at 1365 Palisade Avenue, Fort Lee, New Jersey, offers convenient hours and a high level of service for traditional consumer and commercial products and services. The Bank, currently, has 7 branch offices located in Fort Lee (3 locations), Hackensack, Haworth, Harrington Park, and Englewood, all in Bergen County, NJ. An eighth location in Cliffside Park, NJ, also in Bergen County, is expected to open during the first quarter of 2012.

For more information about Bank of New Jersey and its products and services, please visit http://www.bonj.net or call 201-944-8600. 

If you would like to receive future Bancorp of New Jersey announcements electronically, please email us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release and other statements made from time to time by Bancorp of New Jersey's management contain express and implied statements relating to our future financial condition, results of operations, credit quality, corporate objectives, and other financial and business matters, which are considered forward-looking statements. These forward-looking statements are necessarily speculative and speak only as of the date made, and are subject to numerous assumptions, risks and uncertainties, all of which may change over time. Actual results could differ materially from those expected or implied by such forward-looking statements. Risks and uncertainties which could cause our actual results to differ materially and adversely from such forward-looking statements include the economic conditions affecting the financial industry and our customers, particularly in our market area; volatility in interest rates and the shape of the yield curve; credit risks and risks associated with real estate, which serves as collateral for a significant portion of our loans; operating, legal, and regulatory risk, including compliance with new laws and regulations; economic, political, and competitive forces affecting the company's lines of business; the extent and timing of actions of the Federal Reserve System; customer acceptance of our products and services; and other risks and uncertainties detailed from time to time in our filings with the Securities and Exchange Commission or in other generally disseminated documents. Any statements made that are not historical facts should be considered to be forward-looking statements. You should not place undue reliance on any forward-looking statements. We undertake no obligation to update forward-looking statements or to make any public announcement when we consider forward-looking statements to no longer be accurate, whether as a result of new information of future events, except as may be required by applicable law or regulation.

CONTACT: Bancorp of New Jersey, Inc.
         http://www.bonj.net
         201-944-8600
         
 This e-mail address is being protected from spambots. You need JavaScript enabled to view it.