BBCN (ticker: CLFC, exchange: NASDAQ Global Select Market (.O))
News Release -
Center Financial Declares $0.04 Cash Dividend
LOS ANGELES--(BUSINESS WIRE)--April 16, 2004--Center Financial
Corporation (Nasdaq:CLFC), the financial holding company of Center
Bank, today announced that its Board of Directors has declared a
regular quarterly cash dividend of $0.04 per share. This cash dividend
will be paid on or about May 14, 2004, to shareholders of record at
the close of market on April 30, 2004.
As previously announced, Center Financial declared a two-for-one
stock split, which was paid in March 2004. The company paid quarterly
cash dividends of $0.08 per share in February 2004 and October 2003.
For 2003, Center Financial reported annualized net income of $11.7
million, or $0.72 per diluted share, up 25% from $9.3 million, or
$0.61 per diluted share, in 2002. All per share figures have been
adjusted to reflect the two-for-one stock split in March 2004 and the
8% stock dividend paid March 2003.
Center Financial will report financial results for its 2004 first
quarter during the week of April 19, 2004.
While the Board intends that Center Financial will continue to pay
cash dividends for the foreseeable future, no assurances are given
that the performance of the company or Center Bank will justify the
payment of cash dividends by Center Financial in any given period, or
that the amount of any cash dividend paid will be the same as or
greater than prior cash dividends paid.
About Center Financial Corporation
Center Financial Corporation is the holding company of Center
Bank, a community bank offering a full range of financial services.
Founded in 1986, Center Bank specializes in commercial and SBA loans
and trade finance products for multi-ethnic and small business
customers, and is one of the largest financial institutions in the
nation focusing on the Korean-American community. The Bank operates 13
branches throughout Southern California and five Loan Production
Offices located in Phoenix, Seattle, Denver, Washington D.C. and Las
Vegas. Further information about the company can be found at
CONTACT: Center Financial Corporation
Y. H. Kim, 213-251-2250
James Ryu, 213-251-2206
Angie Yang/Cecilia Wilkinson, 323-866-6004
SOURCE: Center Financial Corporation