SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 21. 1996
MERCHANTS NEW YORK BANCORP, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-22058 13-3650812
(State of Incorporation) (Commission File Number) (IRS Employer
Identification No.)
275 Madison Avenue
New York, New York 10016
(Address of principal executive offices) (Zip Code)
(212) 973-6600
(Registrant's telephone number)
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Item 5. Other Events.
Merchants New York Bancorp, Inc. (the "Company") announced on August 21,
1996 that its Board of Directors had approved an increase in the quarterly
dividend and a common stock repurchase program.
The Company's dividend payable on its common stock will rise by almost 17%,
from $0.30 per share to $0.35 per share on a quarterly basis -- from $1.20 per
share to $1.40 per share annually -- and will be payable September 25 to
shareholders of record as of September 12.
The Company intends to repurchase up to 5% of its outstanding common stock
on the open market from time to time. There are currently approximately 5
million shares of common stock outstanding.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Date: September 4, 1996 MERCHANTS NEW YORK BANCORP, INC.
By: /s/ James G. Lawrence
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James G. Lawrence
President
By: /s/ Nancy J. Ostermann
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Nancy J. Ostermann
Vice President and Comptroller
(Principal Accounting Officer)
