Fremont Michigan InsuraCorp Inc., a Michigan-based provider of property and casualty insurance, announced that its Board of Directors has approved a two-for-one stock split on its common stock in the form of a 100 percent stock dividend.
The record date is Oct. 31, 2006, and stockholders of record at the close of business on the record date will receive one additional share for every share held. The dividend shares will be payable on Nov. 17, 2006.
No paper stock certificates will be issued as the distribution will be made through the book-entry system maintained by the corporation’s stock transfer agent, Registrar and Transfer Company. After the split, Fremont Michigan InsuraCorp will have approximately 1,725,000 shares outstanding.
Source: Fremont Michigan InsuraCorp
Topics Michigan
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