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California-based Summit Bancshares to increase semiannual dividend by 1 cent

Oakland, Calif.-based Summit Bancshares Inc. will increase its semiannual cash dividend to 15 cents per share, a 1-cent increase from the August dividend it paid out, which was 14 cents per share.

The new dividend will be payable Feb. 28 to shareholders of record as of Feb. 7.