Downey Financial Corp. OKs 5% Dividend
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NEWPORT BEACH — Directors of Downey Financial Corp., parent of Downey Savings and Loan Assn., have approved a 5% stock dividend, the company said Thursday.
Downey will issue about 808,000 shares, increasing the total number of outstanding shares to nearly 17 million. The new shares will be distributed Dec. 22 to shareholders of record Dec. 11.
