Eldorado Bancorp Votes Stock Dividend of 10%
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The board of directors for Eldorado Bancorp, the one-bank holding company for Tustin-based Eldorado Bank, has voted to pay a 10% stock dividend to its shareholders.
In the past, Eldorado Bancorp has paid its previous dividends in common stock to get more shares into distribution, said J.B. Crowell, Eldorado Bancorp president. The stock dividend is an addition to the cash dividend payment for the quarter, Crowell said. Shareholders with an odd number of shares will get fractional dividend shares paid in cash. Last November, Eldorado Bancorp initiated a cash dividend by paying 5 cents per share. The second quarterly cash dividend of 5 cents is payable April 6.
After the stock dividend is paid, there will be 1,887,090 shares outstanding.
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