performances of three financial institutions.

Bank of Bermuda closed down $1 at $18 on volume of 8,031 while Bermuda Commercial Bank dropped 37.5 cents to close at $4.875 on volume of 1,607.

Bermuda Home closed down 25 cents at $9.125 on volume of 445.

The only gainer, Staples preferred, closed up 25 cents at $9.25 on volume of 856.

Belco closed unchanged at $19.875 on volume of 769.

The index closed at 987.08, down 2.36 percent.

Share volume was 14,508 with a value of $200,654.63.

Bank of Bermuda announced a dividend of 20 cents per share to shareholders of record December 31 payable January 15.

Belco announced a dividend of 27.5 cents per share to shareholders of record December 15 payable December 29.