SAN DIEGO, May 03, 2024 (GLOBE NEWSWIRE) -- Endeavor Bancorp (OTCQX:EDVR) (the "Company," or "Bancorp"), the holding company for Endeavor Bank (the "Bank"), today announced its Board of Directors has declared a 2% stock dividend to be distributed on May 20, 2024, to shareholders of record on May 10, 2024 (the "Record Date").
Shareholders will receive two additional shares of common stock for every 100 shares currently owned. A cash payment will be made in lieu of fractional shares in an amount equal to the product of (a) the fair value of a share of common stock on the Record Date, multiplied by (b) the applicable fraction of one share of common stock owned by the shareholder.
"This stock dividend reflects our continued focus on building shareholder value," said Dan Yates, CEO. "We view this stock dividend as a way to share our success with shareholders and as a means of improving trading liquidity by increasing the number of shares available."
About Endeavor Bancorp
Endeavor Bancorp, the holding company for Endeavor Bank, is primarily owned and operated by Southern Californians for Southern California businesses and their owners. The bank's focus is local: local decision-making, local board, local founders, local owners, and relationships with local clients in Southern California.
Headquartered in downtown San Diego in the Symphony ...
