Stonebridge Financial Corp., West Chester, declared its first cash dividend since its founding in 1999.

The annual dividend of 10 cents per share will be paid on June 15 to shareholders of record on May 31.

Stonebridge Financial is the parent company of Stonebridge Bank, which had $425.9 million in assets at the end of March. The dividend will be paid annually instead of quarterly to save money, senior vice president Susan H. Reeves said.

The company has 3.1 million privately-held shares outstanding, making the initial payout $310,000.