Directors of Citizens Bank of Costa Mesa...

Directors of Citizens Bank of Costa Mesa have approved a cash dividend of 15 cents a share, the first cash dividend in the bank’s 12-year history, to be paid to shareholders of record as of Jan. 10, 1985. Total amount of the dividend, according to Citizens President Paige V. Simpson, will be $155,250.

In addition to the cash dividend, qualified Citizens shareholders also will receive a 5% stock dividend. Both dividends will be issued Jan. 30 and the stock dividend will increase the number of shares outstanding by 51,750 to a total of 1,086,750 shares, according to Simpson.

Simpson said that Citizens, which recently was the target of an unsuccessful acquisition effort by a group of Hong Kong bankers, expects to post net earnings of “at least $800,000” for 1984. The bank’s annual report is to be released early next year, he said.