Friday, pulling the Bermuda Exchange Index by 1.56 points off its new high achieved on Thursday. The Index closed at 1017.85.

After reaching a new high for the year on Thursday, Bank of Bermuda shares dropped 50 cents to close at $46.50 on volume of 4,500 shares. The Bank declared a 20 cent dividend.

BDR Co. shares traded for the first time up $1.75 from their flotation price of $25 on volume of $1.75. The company, whioch is designed to shadow the share values of Bermuda-based companies listed on foreign exchanges, is not a component of the exchange index.

Bank of Butterfield shares increased 25 cents to close at $25.75 on volume of 913 shares.

BF&M 9% convertible cumulative preference shares closed unchanged at $12 on volume of 1,000.