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Non-Tech : Old National Bank, Evansville, Ind.(OLDB)
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To: Bruce McGaughey who wrote (23)4/15/1999 3:12:00 PM
From: Bruce McGaughey  Read Replies (1) of 47
 
3-2 Stock Split !!!
Great news for those of us in the DRIP program:

EVANSVILLE, Ind., April 15 (Reuters) - Old National Bancorp on Thursday set a three-for-two stock split in the form of a 50 percent stock dividend and raised its quarterly dividend rate to $0.17 a share, post-split.

The $6.6 billion bank holding company said shareholders would receive one additional share of common stock for every two shares they hold as of May 3. The stock stock dividend will be paid on May 24.

The quarterly cash dividend, which is up 10.9 percent when adjusted for the stock split, will be paid June 15 to shareholders of record as of June 1. The increased dividend was Old National's first since 1994.

Old National said its first quarter net income rose to $20.0 million, or $0.64 a share, up from last year's $18.0 million, or $0.57 a share. Total assets were $6.6 billion as of March 31, up from $6.0 billion a year ago.

First quarter results include those of Southern Bancshares in Carbondale, Ill., and Dulaney Bancorp in Marshall, Ill., which were acquired during the first quarter. Both transactions were accounted for as poolings of interest and prior years' financial results have been restated for the effect of the Southern Bancshares acquisition.

Shares of Old National were unchanged at 47.

12:09 04-15-99
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