BALTIMORE -- Baltimore Bancorp declared a quarterly dividend of 5 cents.

The company last paid a quarterly dividend, of 9 cents, on Oct. 1, 1991.

Baltimore Bancorp said the current dividend will be paid using the company's own funds and will not "involve any upstreaming of funds from the Bank of Baltimore."

The company noted there is no assurance of the amount and frequency of possible future dividend payments, but said it intends to pay regular quarterly dividends subject to regulatory approvals and continued financial progress.

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