Wednesday March 25, 6:32 pm Eastern Time
Company Press Release
BancorpSouth, Inc. Announces Stock Split
TUPELO, Miss.--(BUSINESS WIRE)--March 25, 1998--BancorpSouth, Inc. (''BancorpSouth'') (NYSE: BXS - news) today announced that its board of
directors declared a two-for-one stock split effected in the form of a stock dividend through which each eligible holder of BancorpSouth common stock, par value $2.50 per share, will receive an additional share of BancorpSouth common stock. The shares will be issued on May 15, 1998 to shareholders of record as of May 1, 1998. The stock split will increase BancorpSouth's outstanding common shares from 22.33 million to 44.66 million shares.
''The Board's decision to effect a stock split demonstrates our positive outlook for BancorpSouth,'' said Aubrey Patterson, BancorpSouth chairman and chief executive officer. Patterson noted that BancorpSouth's share price increased by more than 50% during the past twelve months closing at $43.1875 today per share
as of March 25, 1998. ''The stock split will allow our shares to trade at a price level that is considered more desirable for many investors, which we believe will
increase their liquidity and marketability.''
BancorpSouth is a bank holding company based in Tupelo, Miss. It is the parent company of BancorpSouth Bank which operates as Bank of Mississippi in Mississippi and Volunteer Bank in Tennessee. Its common stock is traded on the New York Stock Exchange under the symbol ''BXS.'' |
