HANOVER, N.H.--(BUSINESS WIRE)--Ledyard Financial Group (Ticker Symbol LFGP) is pleased to announce that its Board of Directors has approved a three-for-one stock split to be effected in the form of a stock dividend on the Company's common stock. The three-for-one stock split is payable September 20, 2017, to its common shareholders of record at the close of business on September 4, 2017 and the per share price will adjust accordingly.
"Ledyard has delivered strong financial results through the first six months of 2017 as we continue to realize the benefits from the strength in our core businesses, community banking and wealth advisory services," said Kathryn Underwood, President and Chief Executive Officer of Ledyard Financial Group. "We believe this stock split will place the market price of our common stock in a more attractive range for a more diverse group of investors in our local markets. In addition, by increasing the number of shares outstanding, we expect this action will help develop a more active market in Ledyard’s common stock, as well as increase overall shareholder value."
Ledyard Financial Group recently reported the strongest quarterly earnings in its twenty-six year history. Ledyard’s commitment to continued financial growth and improved financial performance will continue to allow its shareholders, employees (all of whom are shareholders), and the communities they serve to share in Ledyard’s success.
Ledyard Financial Group, Inc., headquartered in Hanover, New Hampshire, is the holding company for Ledyard National Bank. Ledyard National Bank, founded in 1991, is a full service community bank offering a broad range of banking, investment, tax and wealth management services. Stock activity information can be found in the “Investor Relations” section of our website, which includes a wealth of other information that Ledyard shareholders and prospective shareholders may find of interest.
Ledyard Financial Group, Inc. shares can be bought and sold through the NASD sanctioned “OTC Markets” under the trading symbol LFGP. Shares may be traded through an individual’s broker. For more information, please refer to the “Investor Relations” section of the bank’s website at www.ledyardbank.com or contact the Company’s Chief Financial Officer, Gregory D. Steverson.