January 18, 2013 5:15 PM | 1 min read |
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), theholding company for Lake Shore Savings Bank (the “Bank”), today announced thatLake Shore, MHC (the “MHC”), the mutual holding company that owns 61.4% of theCompany's outstanding common stock, will hold a special meeting of its membersto vote on a proposal to authorize the MHC to waive its right to receivedividends aggregating up to $0.28 per share that may be declared by theCompany in the 12 months subsequent to the approval of the proposal bymembers. All dividends on the Company's common stock are declared at thediscretion of the Company's Board of Directors. The special meeting will beheld on February 26, 2013.Regulations of the Board of Governors of the Federal Reserve System (the“Federal Reserve”) prohibit the waiver of dividends by the MHC unless thewaiver has been approved by its members, consisting of depositors of the Bank.As a result of the timing of the member vote, the Company's Board of Directorshas determined to delay the declaration of its quarterly cash dividend thatnormally would have been declared at the end of January to March 2013.There can be no assurance that the members will approve the dividend waiver orthat the Federal Reserve will not object to the waiver even if it is approvedby members at the special meeting. If the proposed dividend waiver is notapproved by members or the Federal Reserve, the Board of Directors of theCompany intends to reduce the proposed quarterly dividend from $0.07 peroutstanding share to $0.04 per outstanding share, the amount the Company hasmost recently paid.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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