LAFAYETTE, La., July 18 /PRNewswire-FirstCall/ -- MidSouth Bancorp Inc. today announced a five percent stock dividend on its common stock to holders of record as of September 21, 2007 payable October 23, 2007. This will result in a dividend of one share of common stock for each twenty shares of common stock outstanding on the record date.
After the stock dividend, MidSouth will have outstanding approximately 6,718,816 shares of common stock.
Additionally, the Board approved an increase in the cash dividend paid annually from $0.24 per share to $0.28 per share to be paid quarterly. The first increase to $0.07 per share dividend will be paid on October 1, 2007 to record holders as of September 14, 2007. When considering the additional shares generated by the stock dividend, this represents a 22.5% increase in the annual cash dividend. As always, the possibility of an extra dividend will be determined during the fourth quarter.
MidSouth's stock is traded on the American Stock Exchange under the symbol (AMEX:MSL). DATASOURCE: MidSouth Bancorp Inc.
CONTACT: C. R. Rusty Cloutier, President of MidSouth Bancorp Inc., +1-337-593-3000
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