SOURCE: Bank of Granite Corporation

March 18, 2008 15:57 ET

Bank of Granite Corporation Declares 218th Consecutive Quarterly Dividend

GRANITE FALLS, NC--(Marketwire - March 18, 2008) - Directors of Bank of Granite Corporation (NASDAQ: GRAN) declared a quarterly cash dividend of 13¢ per share payable on April 30, 2008 to stockholders of record on April 16, 2008. The dividend is the 218th consecutive quarterly cash dividend.

Scott Anderson, Chief Executive Officer, said, "Our Board of Directors is pleased to continue our Company's dividend tradition of returning a portion of our earned capital to our stockholders for an additional quarter."

The dividend will be payable on approximately 15,438,000 shares of common stock outstanding to an estimated 5,700 stockholders. The common stock trades on The NASDAQ Global Select MarketSM under the symbol "GRAN." Bank of Granite Corporation is the parent company of Bank of Granite and Granite Mortgage. Bank of Granite operates 22 full-service banking offices in eight North Carolina counties -- Burke, Caldwell, Catawba, Forsyth, Iredell, Mecklenburg, Watauga, and Wilkes -- and a loan production office in Guilford County. Granite Mortgage, a mortgage banking company headquartered in Winston-Salem, originates home mortgages in Fayetteville, Greensboro/High Point, and Salisbury, North Carolina, in addition to Bank of Granite's markets.

Contact Information

  • For further information, please contact:
    Kirby Tyndall
    Chief Financial Officer
    Voice (828) 496-2026
    Fax (828) 496-2010
    Internet: Email Contact