Cardinal Financial Is Skipping a Dividend

OWENSBORO, Ky. - Cardinal Financial Group Inc. said it will not pay dividend to common shareholders in the current quarter, because of the poor financial condition of its Cardinal Financial Savings Bank.

The company said that decision is in accord with its 1989 standard dividend limitation agreement with the Office of Thrift Supervision, which limits payouts to an amount no bigger than the bank's net income in the last eight quarters less dividends paid in the same period.

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