Sterling Financial Corporation Announces 10% Stock Dividend

Strategic Insights -

Sterling Financial Corporation, a leading savings and loan holding company, has announced a 10% stock dividend in recognition of its shareholders' continued support. This decision comes after a year of positive financial performance, demonstrating the company's steady growth and commitment to its stakeholders. The dividend will be payable on November 27, 2000, to shareholders of record on November 6, 2000.

Key Takeaways:

  • Sterling Financial Corporation's board of directors declared a 10% stock dividend, payable on November 27, 2000, to shareholders of record on November 6, 2000.
  • The dividend is a result of the company's positive financial performance and recognition of its shareholders' continued support.
  • After the stock dividend, Sterling Financial Corporation will have approximately 8.9 million shares issued and outstanding, up from 8.1 million at September 30, 2000.
  • Fractional shares resulting from the stock dividend will be paid in cash.
  • Sterling Savings Bank, a wholly owned subsidiary of Sterling Financial Corporation, operates branches throughout Washington, Idaho, Oregon, and western Montana.
  • The company operates loan production offices in Washington, Oregon, Idaho, and western Montana through subsidiaries Action Mortgage Company and INTERVEST-Mortgage Investment Company.
  • Sterling Financial Services, Inc., provides non-bank investments, including mutual funds, variable annuities, and tax-deferred annuities, through regional representatives throughout Sterling Savings' branch network.

Statistics:

  • Sterling Financial Corporation had approximately 8.1 million shares issued and outstanding at September 30, 2000.
  • Following the stock dividend, the company will have approximately 8.9 million shares issued and outstanding.
  • The dividend will be payable on November 27, 2000, to shareholders of record on November 6, 2000.
  • Ferderal regulations apply to Sterling Savings Bank, being a Washington State-chartered, federally insured stock savings association.

Sources:

  • Sterling Financial Corporation press release, October 25, 2000.
  • NASDAQ: STSA.
  • PRNewswire.
  • Spokane, Wash.