First Of Long Island Announces 3-for-2 Stock Split

(RTTNews) - First of Long Island Corp. (FLIC) on Wednesday announced a 3-for-2 stock split to 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.

Additional shares issued as a result of the stock split will be distributed on October 15 to shareholders of record on October 1. Trading of the company's shares on a split-adjusted basis will begin on October 16.

The company also announced a cash dividend of $0.28 per share on its pre-split shares with the same record and payment dates as the stock split. This represents a 7.7% increase over the dividend of $0.26 per share declared in the same quarter last year.