Otra Securities to Issue 10% Stock Dividend

Otra Securities Inc., a securities clearing and brokerage firm based in Glendale, has declared a 10% stock dividend to be issued Sept. 30 to shareholders of record Sept. 10.

Shareholders will receive one additional share for every 10 shares owned, the company said. Otra has 3 million shares outstanding, with 1 million owned by the public and the remainder owned by company directors.

Stock dividends issued to directors will be invested in the company’s employee stock option plan, or ESOP, company officials said.