Community Partners Bancorp approves stock dividend

MIDDLETOWN, N.J. — Community Partners Bancorp, the parent company of Two River Community Bank, said Tuesday its board has approved a 3 percent stock dividend.

The dividend will be payable on Oct. 23 to shareholders of record as of Sept. 25.

Middletown, N.J.-based Community Partners said the dividend will increase the company’s count of outstanding shares by about 208,795. A regulatory filing listed nearly 6.96 million shares of common stock outstanding as of Aug. 3.

Two River Community Bank operates 11 branches throughout Monmouth County in New Jersey. The Town Bank, with four branches in Union County, operates as a division of Two River.

Shares of Community Partners rose 10 cents, or about 2.6 percent, to $4.00 in afternoon trading.