LAWRENCEVILLE, N.J. -- First Fidelity Bancorp. boosted the quarterly dividend on its common stock Thursday by 10%, to 33 cents per share, from 30 cents.
The dividend is payable Nov. 3 to shareholders of record on Oct. 26.
The dividend increase came on the heels of the company's announcing record third-quarter earnings.
Net income totaled $82.3 million, up 49% from the same period in 1991.
Anthony Terracciano, chairman and chief executive officer, said the company's objective is to maintain dividends in the range of 30% to 35% of net income.
At the close Thursday, First Fidelity shares were trading at $38.325, up 12.5 cents.