Citizens Banking Corporation Declares Quarterly Cash Dividend and Three-for-Two Stock Split.FLINT flint, mineral flint, variety of quartz that commonly occurs in rounded nodules and whose crystal structure is not visible to the naked eye. Flint is dark gray, smoky brown, or black in color; pale gray flint is called chert. , Mich.--(BUSINESS WIRE)--Oct. 17, 1997--Today, the Board of Directors of Citizens Banking Corporation declared a quarterly cash dividend of $0.285 per share of common stock. The dividend is payable on November 5, 1997, to shareholders of record on October 24, 1997. The Board of Directors also declared a 50% stock dividend to shareholders of record on October 27, 1997. This action will be accounted for as a 3-for-2 stock split effected in the form of a dividend. Certificates for the additional shares resulting from the stock dividend will be mailed to shareholders November 18, 1997. The annual dividend after the split will be adjusted to $0.76 per share. Citizens Banking Corporation is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services company providing a full range of commercial, consumer, mortgage banking, trust and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against services to a broad client base. Citizens operates 128 offices throughout Michigan Michigan (mĭsh`ĭgən), upper midwestern state of the United States. It consists of two peninsulas thrusting into the Great Lakes and has borders with Ohio and Indiana (S), Wisconsin (W), and the Canadian province of Ontario (N,E). and in suburban Chicago, Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. . CONTACT: Citizens Banking Corporation John W. Ennest, 810/257-2557 |
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