Parke Bancorp, Inc. Announces 10% Stock Dividend (PKBK)
Parke Bancorp (Nasdaq: PKBK) Washington Township, New Jersey, the parent bank holding company of Parke Bank, today announced that the Company's Board of Directors had declared a 10% stock dividend. The stock dividend is payable on May 20, 2011, to stockholders of record as of May 10, 2011.
Vito S. Pantilione, President of the Company, stated that the Board of Directors "was pleased to declare this dividend as another method to increase shareholder value in the Company and also increase the liquidity of the stock. As a result of the Board's action today, the outstanding shares of the Company's common stock will increase by approximately 444,223 shares, from 4,442,233 shares outstanding to 4,886,456 shares outstanding."
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