JENNINGS, LA / ACCESSWIRE / July 21, 2021 / JD Bancshares, Inc. (OTCQX:JDVB) Dan L. Donald, Jr., Chairman of the Board of Directors of JD Bancshares, Inc. (the "Company"), announced that at its regularly scheduled meeting on July 20, 2021, the Board approved a 2-for-1 stock split of the Company's common shares. The stock split will be affected in the form of a 100% stock dividend and shareholders will receive one additional share of common stock for every one share held on the record date. The additional shares will be distributed on August 20, 2021 to shareholders of record at the close of business August 13, 2021. The Company anticipates that the outstanding shares of stock will increase from approximately 1.7 million shares to 3.4 million shares.
In addition, the Board declared a cash dividend in the amount of $0.45 per share. The cash dividend will be paid on August 6, 2021 to shareholders of record at the close of business July 30, 2021. The dividend will be paid prior to the stock split.
Bruce W. Elder, President and CEO, stated, "We are pleased to announce this stock split and believe doubling the number of shares outstanding will improve the market liquidity of shares. Additionally, we look forward to participating in an investor conference this fall to promote new interest in the Company. Our long-term business strategy includes rewarding shareholders through stock price appreciation and cash dividends."
Additional information on the stock split, including a set of frequently asked questions, will be sent to shareholders in advance of the share distribution.
About JD Bancshares, Inc.
JD Bancshares, Inc. is the bank holding company of JD Bank, a state chartered bank headquartered in Jennings, Louisiana. JD Bank has been serving the citizens of southwest Louisiana since 1947 and offers a variety of personal and commercial lending and deposit products through both physical and digital delivery channels. The Bank also offers both trust and investment services. JD Bank operates through 23 full service branch offices located along the Interstate 10 corridor from Lake Charles to Lafayette, Louisiana. JD Bancshares, Inc. may be accessed on its website at www.jdbank.com/investor relations.
JD Bancshares, Inc. (OTCQX:JDVB) trades on the OTCQX Best Market. Companies meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, and have a professional third-party sponsor introduction. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
JD Bancshares, Inc.
Bruce Elder (CEO) (337-246-5399)
Paul Brummett (CFO) (337-824-1422)
SOURCE: JD Bancshares, Inc.