Hanmi Financial Suspends Quarterly Dividend

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Hanmi Financial Corp. on Friday said it will not pay a cash dividend for the second quarter in order to conserve cash.

The Los Angeles holding company of Hanmi Bank said that regulatory requirements related to goodwill charges forced Hanmi to suspend its dividend. The bank last month reported a loss of almost $106 million, or $2.30 per share, largely because of a $107 million goodwill impairment charge related to its acquisition of Pacific Union Bank.

Hurt by the ongoing credit crisis, other U.S. banks also have cut or suspended their quarterly dividend. “Although the bank remains well capitalized, it is important that we maintain liquidity and conserve capital,” said Chairman Won R. Yoon in a statement.

Hanmi Financial, which primarily caters to the Korean-American community, last paid a dividend of 3 cents a share in July.

Hanmi shares were down 13 cents, or 2.5 percent, to $5.11 in morning trading on the Nasdaq.

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