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Article: Seacoast Banking Corporation of Florida Suspends Dividends.
- Article from:
- PR Newswire
- Article date:
- May 19, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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STUART, Fla., May 19 /PRNewswire-FirstCall/ -- Seacoast Banking Corporation of Florida , a bank holding company whose principal subsidiary is Seacoast National Bank, announced today that the Company's board of directors has determined to suspend regular quarterly cash dividends on its outstanding common stock and preferred stock as a result of recently adopted Federal Reserve policies related to dividend and other payments in light of stressed market conditions. The Company's board of directors took this action in consultation with the Federal Reserve as required by recent policy guidance.
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