Flatbush Federal Bancorp Board Announces Stock Dividend
06 Março 2006 - 3:45PM
PR Newswire (US)
BROOKLYN, N.Y., March 6 /PRNewswire-FirstCall/ -- On February 23,
2006, the Board of Directors of Flatbush Federal Bancorp, Inc.
declared a 10% stock dividend payable to stockholders of record as
of the close on March 15, 2006. The dividend will be paid on March
29, 2006. In lieu of fractional shares, cash will be distributed to
each stockholder who would otherwise have been entitled to receive
a fractional share. Any such cash distributions made will be based
upon the per share price at the close of business on March 15,
2006. Certificates for the new shares and cash paid for fractional
shares will be mailed to stockholders on or about March 29, 2006.
Anthony J. Monteverdi, Chairman of the Board, said, "We are pleased
to announce our second stock dividend. This dividend declaration is
evidence of our Board's commitment to increasing stockholder value
in our Company, and provides us with an opportunity to improve our
stock's liquidity position. Our action also confirms the confidence
the Board of Directors has in new management's ability to continue
the Company's growth and success." As a result of the Board's
action, 2,545,464 outstanding shares of Flatbush Bancorp's common
stock will increase by approximately 254,546 shares. Flatbush
Bancorp, Inc., is the holding company for Flatbush Federal Savings
and Loan Association. Corporate headquarters are located at 2416
Nostrand Avenue, Brooklyn, NY 11210. The Company's stock trades on
the Nasdaq OTCBB under the symbol FLTB. DATASOURCE: Flatbush
Federal Bancorp, Inc. CONTACT: J. Adia, President of Flatbush
Federal Bancorp, Inc., +1-718-859-6800 Web site:
http://www.flatbush.com/
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