Bar Harbor Bankshares Announces [Three-for-Two] Stock Split as a Large Stock Dividend
21 Februar 2017 - 10:05PM
Business Wire
Bar Harbor Bankshares (NYSE MKT: BHB) (the “Company”) the parent
company of Bar Harbor Bank & Trust, today announced that its
Board of Directors declared a three-for-two split of its common
stock payable in the form of a large stock dividend. The
three-for-two stock split as a large stock dividend is payable
March 21, 2017, to its common stockholders of record at the close
of business on March 7, 2017. The additional shares will be
distributed by the Company’s transfer agent, American Stock
Transfer & Trust Company, and the per share price of the
Company’s common stock will adjust accordingly on the NYSE MKT,
LLC. Stockholders 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 those
shareholders participating in the Company’s dividend reinvestment
and share purchase plan will have fractional shares credited to
their accounts.
The Company currently has approximately 10,257,918 shares of
common stock outstanding. After the stock split as a large stock
dividend, the number of shares of common stock outstanding will
increase to approximately 15,386,877.
“Bar Harbor Bankshares has generated increased value for
shareholders through execution of our business strategies, stock
price appreciation and quarterly cash dividends,” said Company
President and Chief Executive Officer, Curtis C. Simard. “We have
now closed the Lake Sunapee Bank Group acquisition and believe that
the three-for-two stock split will make our company more attractive
to a broader range of investors.”
Bar Harbor Bankshares (NYSE MKT: BHB) is the parent of Bar
Harbor Bank & Trust. Founded in 1887, Bar Harbor Bank &
Trust is a true community bank serving the financial needs of its
clients for over 125 years. Bar Harbor provides a full range of
financial services through its 49 branch locations in all three
Northern New England states of Maine, New Hampshire and Vermont.
Bar Harbor offers easy-to-understand deposit and loan products for
families, businesses, and non-profit organizations. For more
information, visit www.bhbt.com.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements include, but are not limited to,
expectations or predictions of future financial or business
performance, conditions relating to Bar Harbor. Forward- looking
statements are typically identified by words such as “believe,”
“expect,” “anticipate,” “intend,” “target,” “estimate,” “continue,”
“positions,” “prospects or “potential,” by future conditional verbs
such as “will,” “would,” “should,” “could” or “may,” or by
variations of such words or by similar expressions. These
forward-looking statements are subject to numerous assumptions,
risks and uncertainties, which change over time. Forward looking
statements are made only as of the date of this press release, and
Bar Harbor undertakes no obligation to update any forward-looking
statements contained in this press release to reflect events or
conditions after the date hereof. Actual results may differ
materially from those described in any such forward-looking
statements.
In addition to factors previously disclosed in the reports filed
by Bar Harbor and Lake Sunapee with the U.S. Securities and
Exchange Commission (the “SEC”) and those identified elsewhere in
this document, the following factors, among others, could cause
actual results to differ materially from forward looking statements
or historical performance: difficulties and delays in integrating
the business or fully realizing cost savings and other benefits;
changes in asset quality and credit risk; the inability to sustain
revenue and earnings growth; changes in interest rates and capital
markets; inflation; customer acceptance of products and services;
customer borrowing, repayment, investment and deposit practices;
competitive conditions; economic conditions, including downturns in
the local, regional or national economies; the impact, extent and
timing of technological changes; changes in accounting policies or
practices; changes in laws and regulations; and other actions of
the Federal Reserve Board and other legislative and regulatory
actions and reforms.
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version on businesswire.com: http://www.businesswire.com/news/home/20170221006529/en/
Bar Harbor BanksharesCurtis C. Simard, 207-288-3314President and
CEO
Bar Harbor Bankshares (AMEX:BHB)
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