Orange County Bancorp (OBT) said Thursday its board has declared a two-for-one forward stock split of the company's shares.
Each record holder of shares on Jan. 9 will get one additional share after the market close on Jan. 10, the company said, adding trading is slated to start on a split-adjusted basis at market open on Jan. 13.
The outstanding shares after the split will increase to 11.4 million shares from 5.7 million shares, the company said. The par value will be lowered to $0.25 par value from $0.50.
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