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Non-Tech : Lawrence Savings Bank LSBX
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To: Phil Rogers who wrote (26)2/3/1997 11:06:00 AM
From: Phil Rogers   of 98
 
I thought that some of you might find this of interest. It is a message from another message board:

I spoke with a Mr. Miller at LSBX stockholder relations about the question of a dividend;
He said they would need to obtain permission from the state of Mass. because of the losses in the past (1989 etc.), however he felt they would not do that as it would make better sense to keep all of our money working while the tax loss carryover was still a benefit. He felt that they would be granted permission, because of the earnings and earnings growth, if they asked for it. But as any profits flow to the companies bottom line essentially tax free, (because of past losses) the present value of these funds does better being put to work (and building long term) as opposed to being distributed and taxed on our end.
It makes sense to me.

Phil
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