Welcome to the Business Journal Archives
Search for articles below, or continue to the all new BusinessJournalDaily.com now.
Search
F.N.B. Declares Cash Dividend of 23 Cents
HERMITAGE, Pa. -- The board of directors of F.N.B. Corp. yesterday declared a quarterly cash dividend of 23 cents per share of common stock. The dividend is payable Dec. 15 to shareholders of record as of the close of business on Dec. 1. "We are pleased that F.N.B.'s cash dividend is among the highest of bank holding companies our size in the United States," saidStephen Gurgovits, president and chief executive officer. "This dividend represents a yield, on an annualized basis, that is consistent with our targeted yield range of between 4% and 5%. This produces an attractive return considering today's interest rates, and tax treatment of dividends."The corporation completed its acquisition Oct. 8 of Slippery Rock Financial Corp. On Oct.15, F.N.B. announced an agreement to merge with NSD Bancorp, the $532-million, Pittsburgh parent of NorthSide Bank. That merger is expected to close in the first quarter, 2005. F.N.B. has total assets of $5.1 billion. It owns and operates First National Bank of Pennsylvania, First National Trust Co., First National Investment Services Co., plus insurance affiliates.Visit F.N.B. at www.fnbcorporation.com"