The First of Long Island Corporation Announces 3-for-2 Stock Split
October 27 2016 - 10:55AM
The First of Long Island Corporation (Nasdaq:FLIC) announced today
a 3-for-2 stock split. The stock split will be effected
through a 50% stock dividend entitling each stockholder of record
to receive one additional share of common stock for each two shares
owned. The Corporation will not pay cash in lieu of
fractional shares, but will instead round-up each shareholder’s
entitlement to the nearest full share. Additional shares
issued as a result of the stock split will be distributed on
November 28, 2016, to shareholders of record on November 10,
2016. Trading of the Corporation’s shares on a split-adjusted
basis is expected to begin on November 29, 2016.
Michael N. Vittorio, President and Chief
Executive Officer of The First of Long Island Corporation, stated:
“We are proud of the long-term value we have created for our
stockholders and look forward to executing our plans for future
growth and expansion. The stock split may broaden our
investor base and improve the trading volume and liquidity of our
common stock.”
The First of Long Island Corporation is the
parent company of The First National Bank of Long Island. The
Bank currently has forty-five branches in Nassau and Suffolk
Counties, Long Island and the New York City boroughs of Queens,
Brooklyn and Manhattan. The Bank expects to open two more
branches during the next six months and continues to evaluate sites
for further branch expansion. One of the new branches will be
in College Point, Queens and the other in East Islip, Long
Island.
For More Information Contact:
Mark D. Curtis, SEVP, CFO & Treasurer
(516) 671-4900 Ext. 7413
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