Stock Dividend Slated by Eldorado Bancorp
In an effort to increase distribution and marketability of its common stock, Eldorado Bancorp in Laguna Hills declared a 10% stock dividend, payable Dec. 4 to shareholders of record on Nov. 13.
The stock dividend, the third in 18 months, will increase the company’s 1.95 million shares outstanding to 2.14 million. The company also pays regular quarterly dividends of 5 cents a share.
Four weeks ago, the company’s stock began trading on the American Stock Exchange, making Eldorado the first Orange County-based bank or bank holding company to have its shares traded on one of the nation’s two major exchanges.
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