The board of Georgetown, Mass.-basedGeorgetown Bancorp Inc.declared a quarterly cash dividend of 5 cents per common share, representing anincrease of 5% from the previous quarter's payout of 4.75 cents.

The dividend will be payable on or aboutMay 23 to stockholders of record as of May 9, according to an earnings release.

Georgetown Bancorp reported net incomeof $80,000, or 5 cents per share, for the first quarter, compared to $250,000, or14 cents per share, for the year-ago period.