Orange County Bancorp to Enact 2-for-1 Stock Split

Dow Jones

Dec 27, 2024

By Ben Glickman

Orange County Bancorp said Thursday it would enact a two-for-one stock split to make investing in the company more accessible.

The parent company of Orange Bank & Trust and Hudson Valley Investment Advisors said that each holder of record as of Jan. 9 will receive an additional share after the close on Jan. 10.

The stock is expected to begin trading on a split-adjusted basis when the market opens Jan. 13.

Chief Executive Michael Gilfeather said the board had determined the lower trading price for shares would make stock ownership more available and promote new investor interest.

The Middletown, N.Y., company's stock closed Thursday trading at around $56 a share.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

December 26, 2024 16:20 ET (21:20 GMT)

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