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09:47 EDTPEBK
theflyonthewall.com: Peoples Bancorp lowers dividend
The board of Peoples Bancorp of North Carolina declared a cash dividend for Q4 in the amount of 2c per share. The cash dividend will be paid on December 15 to shareholders of record December 3. This is a reduction of 5c per share from the cash dividend paid in September 2009. The Board's decision to reduce the dividend comes as a result of the decrease in operating earnings in Q3 and the potential impact that the current economic conditions may have on future earnings. The Board believes that this reduction in the quarterly dividend is in the best interests of the Company and its shareholders, allowing the Company to preserve capital in this period of difficult economic times. While the Company continues to be profitable, the level of earnings from operations has been diminished because of the credit issues associated with this recession. Future dividend payments will be based upon the performance of the Company and will be determined each quarter by the Board of Directors. :theflyonthewall.com



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January 27, 2010
11:05 EDTPEBK
theflyonthewall.com: Peoples Bancorp reports Q4 EPS 11c vs. consensus of 11c (One estimate)

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