Integrated Financial Holdings Announces Special Dividend
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Integrated Financial Holdings, Inc. Declares Special Dividend
Integrated Financial Holdings, Inc. (OTCQX: IFHI), the financial holding company for West Town Bank & Trust and Windsor Advantage, LLC, has approved a significant announcement regarding the distribution of a special stock dividend to its shareholders. This step reflects the company's commitment to providing value to its common stock shareholders through the distribution of its ownership interest in Dogwood State Bank.
Details of the Special Dividend
The board of directors at Integrated Financial Holdings, Inc. has officially announced that all shares of common stock of Dogwood State Bank, which is owned by IFHI, will be distributed to the common stock shareholders. This distribution will include all shareholders of record as of a fixed date, known as the Record Date.
Key Dates for Shareholders
The Record Date has been set for shareholders of IFHI, marking the point at which eligible shareholders will receive Dogwood shares. The expected Distribution Date, on which the shares will be allocated to the eligible shareholders, is also scheduled. These critical dates are vital for shareholders to ensure they receive their entitlement to the Dogwood stock shares.
Understanding the Distribution Ratio
To clarify how many shares of Dogwood common stock each IFHI shareholder will receive, a distribution ratio will be calculated based on the number of Dogwood shares owned by IFHI divided by the total outstanding shares of IFHI common stock on the Record Date. The expected ratio is approximately 0.4673 shares of Dogwood common stock for each share of IFHI common stock owned. This calculation is based on the number of shares outstanding prior to the Record Date and is subject to adjustments based on any changes to the number of IFHI shares in circulation.
Impact of the Special Dividend
It is essential to note that fractional shares of Dogwood common stock will not be distributed. Instead, shareholders will receive cash payments in lieu of any fractional share they may have been entitled to. This mechanism is designed to ensure that every shareholder receives their fair distribution in a practical manner.
Advisory for Shareholders
Shareholders of IFHI are encouraged to seek advice from their financial and tax advisors regarding the implications of receiving the special dividend in Dogwood shares. Understanding the tax consequences and financial impact of this dividend is crucial for effective financial planning.
About Integrated Financial Holdings, Inc.
Integrated Financial Holdings, Inc. operates as a financial holding company headquartered in Raleigh, North Carolina. The organization serves as the parent company for West Town Bank & Trust, which provides banking services in the greater Chicago area. Additionally, it oversees Windsor Advantage, LLC, which delivers comprehensive loan servicing to community banks and credit unions. With a registration under the supervision of the Federal Reserve, West Town Bank & Trust is well-regulated by both state and federal authorities.
Company Services and Offerings
West Town Bank & Trust is committed to delivering high-quality banking services, while Windsor Advantage offers an extensive suite of services that includes a U.S. Small Business Administration (SBA) lending platform. The objective of providing these services is to support small businesses and enhance financial accessibility for communities.
Frequently Asked Questions
What is the special dividend announced by Integrated Financial Holdings, Inc.?
The special dividend involves distributing shares of Dogwood State Bank to the shareholders of Integrated Financial Holdings, Inc.
When is the Record Date for the dividend distribution?
The Record Date for eligibility to receive the dividend is set, allowing shareholders to prepare for the distribution of Dogwood shares.
How is the distribution ratio for the shares determined?
The distribution ratio is calculated by dividing the number of Dogwood shares owned by IFHI by the total number of IFHI shares outstanding on the Record Date.
What happens if a shareholder is entitled to a fractional share?
No fractional shares will be distributed. Instead, shareholders will receive cash in lieu of any fractional share entitlement.
Who should shareholders consult regarding the dividend implications?
Shareholders should consult their financial and tax advisors to understand the specific implications of receiving the special dividend.
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