June 17, 2014
ServisFirst Bancshares, Inc. Declares Second Quarter Cash Dividend And Announces Three-For-One Stock Split
Charleston, SC -
ServisFirst Bancshares, Inc., (NASDAQ: SFBS) (“ServisFirst”), the holding company for ServisFirst Bank, today announced that, at a meeting held on June 16, 2014, its Board of Directors declared a quarterly cash dividend and approved a three-for-one split in ServisFirst common stock. The quarterly dividend of $0.15 per share pre-split is payable on July 15, 2014 to stockholders of record as of July 8, 2014. Future declarations of quarterly dividends will be subject to the approval of the Board of Directors and may be adjusted as business needs or markets change.
In addition, ServisFirst’s Board of Directors declared a three-for-one common stock split in the form of a stock dividend. The stock dividend will be payable July 16, 2014 to stockholders of record as of July 9, 2014. Holders of ServisFirst’s common stock as of the record date will receive two additional shares for every share held on the record date of July 9, 2014.
As a result of the stock split, the total number of shares of common stock outstanding will increase from approximately 8.2 million to approximately 24.5 million. The additional shares of common stock are expected to be distributed on or about July 16, 2014 by ServisFirst’s transfer agent, Registrar and Transfer Company.