Carolina Alliance announces 5% stock dividend
August 23, 2017
SPARTANBURG, SC – Carolina Alliance Bank (OTCQX:CRLN) announced that its Board of Directors has declared a 5% stock dividend. The stock dividend will be payable September 19, 2017 to shareholders of record as of September 5, 2017. Holders of Carolina Alliance common stock as of the record date will receive one additional share for every twenty shares held on the record date. Cash will be issued in lieu of fractional shares.
“We are pleased to announce a 5% stock dividend for our shareholders. The Board of Directors believes that our shareholders will benefit from this stock dividend and the expected related enhancement of our stock’s liquidity,” said Terry Cash, Chairman of the Board of Directors of Carolina Alliance.
As a result of the stock dividend, the total number of shares of common stock outstanding will increase from approximately 6.8 million to approximately 7.2 million. The additional shares of common stock are expected to be distributed on or about September 19, 2017 by the bank’s transfer agent, American Stock Transfer and Trust Company.
For additional information about Carolina Alliance, please call (864) 208-BANK (2265) or visit www.carolinaalliancebank.com.
