Old National Bank, Evansville, Ind.(OLDB) Message Board

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Non-Tech : Old National Bank, Evansville, Ind.(OLDB)

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To: go4it who wrote (4)	12/21/1998 2:36:00 PM
From: Bruce McGaughey	Read Replies (1) of 47

Charles- Welcome aboard. They haven't split this stock since '87. Instead, they've been handing out 21/20 splits every January. This works out to a 5% div...of sorts. What's nice here is the DRIP program. If you own shares of OLDB, you can join the DRIP program. Every time a div is kicked out, you can elect to buy more shares through the DRIP, rather than taking the cash. You can also buy stock through the DRIP program at 3% above the bid price, too, I think. We just had a 0.23 div last week. There are so few shares out there and so many hands into the DRIP program, that when the div goes out, the DRIP program sucks available shares out of the market. Therefore, the share price goes up. I think we're seeing that today......the effect of the 0.23 div last week. We're likely to see another run in the stock in a couple of weeks when the 21-20 split (5% div) comes out. I'm thinking we'll see a split here sometime this year, because we're just running out of supply.

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