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California Savings Banks Face Dividend Ceiling
State Banking Board imposes a maximum annual dividend rate of 3 4 percent for the period ending Sept 30 with a later option for a 1 2 percent special payout for long term deposits. The move aims to curb unsound competition and safeguard bank soundness.
MENTIONED IN THIS ARTICLE
New York
State Banking Board
Mutual Savings Banks
Banking Board
G. Russell Clark
State Banking Department
Clark
Savings Bank