Commonwealth Bank breaks ground on Cable Beach Branch relocation site

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Commonwealth Bank recently celebrated the official groundbreaking of the new location of their Cable Beach Branch in the Baha Mar Commercial Village, approximately one mile west of the Bank’s current location on the Cable Beach strip on West Bay Street.

The new building is being constructed by Baha Mar as part of the agreement with the Bank to make the current site of the Cable Beach branch part of the mega development on Cable Beach.

Commonwealth Bank increases quarterly dividend

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Commonwealth Bank concluded its 50th anniversary year of celebration on a financial high note. The Bank has announced that its Board of Directors recently approved an increase in the common share quarterly dividend from $0.05 to $0.06 per share, effective March 2011.This increase reflects the first increase in the quarterly dividend since the global economic crisis occurred in 2008.

The dividend payment will be payable on March 31st, to shareholders of record as of March 21st .