CAMBREX Corp., Bayonne, N.J., declared its initial quarterly of five cents a share, payable Dec. 1 to stock of record Nov. 10. The maker of specialty chemicals has about 5.9 million shares outstanding. The company said the move recognizes its strong financial position. Although profits were "squeezed" in 1989, mainly as a result of higher raw-material costs, the company said it is confident about future earnings and cash flow for 1990 and beyond. In national over-the-counter trading yesterday, Cambrex shares rose 50 cents to close at $13 a share.