SAN LUIS OBISPO, Calif., Nov. 14, 2007 (PRIME NEWSWIRE) -- San Luis Trust Bank (OTCBB:SNLS) announced a year-end cash dividend of $0.16 per share. The dividend will be paid December 14, 2007 to shareholders of record as of November 30, 2007. This dividend, the second announced this year, brings total cash dividends for 2007 to $0.30 per share, a 30% increase over 2006. The Bank's CEO, Brad Lyon, commented that the significant increase is due to the continued solid earnings. He further stated that "the Board of Directors is committed to maximizing shareholder value by significantly increasing cash dividends within the parameters of prudent capital ratios and net income levels."
In a related story, the Bank announced that its ESOP Plan had purchased over 20,000 shares of its common stock over the past 3 weeks. CEO Lyon reported that senior management and the Board of Directors feel that the current stock price is a good buy at the current levels and that the employees of the Bank will greatly benefit from the recent purchases.
For more information on San Luis Trust Bank, visit www.sanluistrustbank.com.
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