Camden National (CAC) Approves 3-for-2 Stock Split
- Wall St. reverses course as discretionary, industrials weigh
- Twitter (TWTR) Tops Q3 EPS by 4c; Announces Restructuring, Workforce Reduction
- Qualcomm (QCOM) to Acquire NXP Semi (NXPI) in $47B Deal
- Tesla (TSLA) Posts Q3 adj.-EPS of 71c
- Pre-Open Stock Movers 10/27: (PRQR) (OCN) (TWTR) Higher; (CYH) (GNC) (RNWK) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Camden National Corporation (NASDAQ®: CAC) announced today that its Board of Directors has approved a three-for-two stock split to be effected in the form of a stock dividend on the Company's common stock. The three-for-two stock split is payable September 30, 2016, to its common shareholders of record at the close of business on September 15, 2016. Shareholders will receive cash in lieu of any fractional share of common stock that they otherwise would have been entitled to receive in connection with the split, except that participants in the Company's Dividend Reinvestment & Direct Stock Purchase and Sale Plan will have fractional shares credited to their accounts. The price paid for fractional shares will be the closing price the last trading day immediately prior to record date.
"The Company has delivered strong financial results through the first six months of 2016 as we continue to realize the benefits of the strategic acquisition of SBM Financial, Inc., the parent company of The Bank of Maine," said Gregory A. Dufour, president and chief executive officer of Camden National. "We believe this stock split will place the market price of the Company's common stock in a more attractive range for investors and, by increasing the number of shares outstanding, we also expect this action will help increase the liquidity of the Company's common stock."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Felcor Lodging Trust (FCH) Receives Letter from Snow Park Capital; Calls for Evaluation of Strategic Alternatives
- Community Health Systems (CYH) Prelim. Q3 Results Fall Short of Consensus
- COPsync, Inc. Retains Everest Corporate Advisors, Inc. to Assist in Strategic Market Planning and Awareness
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Stock Splits
Related EntitiesDividend, Earnings, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!