Frontier Financial suspends dividend payment

By Lisa Kerner

Charlotte, N.C., Dec. 19 - Frontier Financial Corp. said its board of directors voted to suspend the payment of the quarterly cash dividend on the company's common stock.

"The board has determined that the suspension of the cash dividend at this point in time is prudent to preserve capital in light of current economic conditions," chairman and chief executive officer Patrick M. Fahey said in a company news release.

The board will re-evaluate payment of the quarterly dividend "at the appropriate time," Frontier Financial said.

Frontier Financial is the Everett, Wash., financial holding company for Frontier Bank.

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