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Georgetown Bancorp To Repurchase Stocks, Declares Quarterly Dividend

Georgetown Bancorp plans to repurchase up to 79,247 shares of its own common stock, approximately 4.1 percent of its current outstanding shares.

The firm today declared a quarterly cash dividend of 4 cents per share of common stock. The dividend will be paid on or about Feb. 25 to stockholders of record at the close of business on Feb. 11.

"The repurchase plan will offset some of the dilution to stockholders resulting from our existing equity incentive plan," Robert Balletto, CEO, said in a statement. "Each of these actions represents our long-term commitment to enhancing stockholder value and we intend to continue paying a quarterly dividend in the future, assuming that our financial position continues to allow such payments."

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