Hudson Valley Holding (HVB) Announces 10% Stock Dividend
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The board of directors of Hudson Valley Holding Corp. (NYSE: HVB) declared a 10% common stock dividend for shareholders of record as of close of business on November 23, 2011.
This is the 28th consecutive year that a stock dividend or stock split has been declared by the parent company of Hudson Valley Bank, which serves middle-market commercial customers and their principals in Westchester County, metropolitan New York City and lower Connecticut.
On December 5, 2011, the payment date, the additional shares representing the stock dividend will be credited to a book entry account for each shareholder.
All fractional shares resulting from the dividend will be paid in cash at the fair market value of Hudson Valley's common stock based on the closing sales price per share on November 23, 2011, the record date, as reported on the NYSE.
On September 30, 2011, the company had 17,694,297 shares of common stock outstanding. As a result of the stock dividend, the company expects to have approximately 19,500,000 shares of common stock outstanding.
This is the 28th consecutive year that a stock dividend or stock split has been declared by the parent company of Hudson Valley Bank, which serves middle-market commercial customers and their principals in Westchester County, metropolitan New York City and lower Connecticut.
On December 5, 2011, the payment date, the additional shares representing the stock dividend will be credited to a book entry account for each shareholder.
All fractional shares resulting from the dividend will be paid in cash at the fair market value of Hudson Valley's common stock based on the closing sales price per share on November 23, 2011, the record date, as reported on the NYSE.
On September 30, 2011, the company had 17,694,297 shares of common stock outstanding. As a result of the stock dividend, the company expects to have approximately 19,500,000 shares of common stock outstanding.
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