Monarch Financial (MNRK) Announces Six-for-Five Split
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Monarch Financial Holdings, Inc. (Nasdaq: MNRK), the holding company for Monarch Bank, announced at their October 17, 2012 Board of Directors meeting the declaration of a 6 for 5 stock split, which equals 20% more shares for each shareholder. This was the company's sixth stock split or stock dividend in their history. This 6-for-5 stock split equals one additional share for every five shares owned, and is payable December 7, 2012 to shareholders of record on November 9, 2012.
The Board of Directors also declared a quarterly cash dividend of $0.05 per common share, payable on November 30, 2012, to shareholders of record on November 9, 2012. The amount and declaration of future cash dividends is subject to Board of Director's approval in addition to regulatory restrictions. Total cash dividends declared in 2012 equaled $0.19 per share, which represents an increase of over 18% from the previous year.
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The Board of Directors also declared a quarterly cash dividend of $0.05 per common share, payable on November 30, 2012, to shareholders of record on November 9, 2012. The amount and declaration of future cash dividends is subject to Board of Director's approval in addition to regulatory restrictions. Total cash dividends declared in 2012 equaled $0.19 per share, which represents an increase of over 18% from the previous year.
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