Printer Friendly

SCOTT & STRINGFELLOW ANNOUNCES 22 PERCENT INCREASE IN QUARTERLY DIVIDEND

 RICHMOND, Va., Nov. 17 /PRNewswire/ -- Scott & Stringfellow Financial, Inc. (NASDAQ-NMS: SCOT) announced today that its board of directors has voted to increase the company's regular quarterly dividend from 9 cents per share to 11 cents per share, an increase of approximately 22 percent. The new quarterly dividend rate will be effective with the next quarterly dividend which will be paid on Jan. 17, 1994, to shareholders of record on Jan. 3, 1994. On Nov. 15, 1993, the company had 1,749,216 shares of common stock outstanding.
 This latest quarterly dividend increase represents the seventh consecutive year that the quarterly dividend has been increased since 1987. Over this time period, the quarterly dividend has grown from 3 cents per share in 1987 to the new 11 cent per share amount, an average annual increase of 20.6 percent over
the past seven years. The new quarterly dividend is equivalent to 44 cents per share annually and represents a 2.9 percent yield on the current offered price of $15.25 for the company's common stock.
 The company's primary subsidiary, Scott & Stringfellow, Inc., is a regional brokerage, financial services and investment banking firm headquartered in Richmond. Scott & Stringfellow, Inc., which celebrated its 100th anniversary in May 1993, is the South's oldest continuous member of the New York Stock Exchange. It operates 25 offices across Virginia, North Carolina and West Virginia and has more than 400 employees, including 178 full-time investment brokers. The common stock of the holding company, Scott & Stringfellow Financial, Inc., has been quoted on the NASDAQ National Market System under the symbol "SCOT" since an initial public offering in November 1986.
 -0- 11/17/93
 /CONTACT: William P. Schubmehl, president and chief executive officer, 804-780-3252, or Steven C. DeLaney, first vice president and chief financial officer, 804-782-8757, both of Scott & Stringfellow/
 (SCOT)


CO: Scott & Stringfellow Financial, Inc. ST: Virginia IN: FIN SU: DIV

KD-MH -- DC025 -- 5598 11/17/93 15:10 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 17, 1993
Words:323
Previous Article:HUNTINGTON BANCSHARES DECLARES QUARTERLY DIVIDEND
Next Article:SIERRA CLUB APPLAUDS APPOINTMENT OF JACK WARD THOMAS TO HEAD U.S. FOREST SERVICE
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters