YONKERS, N.Y., Nov. 18, 2010 /PRNewswire-FirstCall/ -- The board
of directors of Hudson Valley Holding Corp. (Nasdaq: HUVL) declared
a 10% common stock dividend for shareholders of record as of close
of business on November 29, 2010.
This is the 27th consecutive year that a stock dividend or stock
split has been declared by the parent company of Hudson Valley Bank, which serves middle-market
commercial customers and their principals in Westchester County, metropolitan New York City and lower Connecticut.
"The board was very pleased to be able to declare this stock
dividend for the benefit of our shareholders," Chairman of the
Board William E. Griffin said.
On December 10, 2010, the payment
date, the additional shares representing the stock dividend will be
credited to a book entry account for each shareholder.
All fractional shares resulting from the dividend will be paid
in cash at the fair market value of Hudson
Valley's common stock based on the closing sales price per
share on November 29, 2010, the
record date, as reported on the NASDAQ Global Select Market.
On September 30, 2010, the company
had 16,029,124 shares of common stock outstanding. As a
result of the stock dividend, the company expects to have
approximately 17,632,000 shares of common stock outstanding.
About Hudson Valley Holding Corp. Hudson Valley Holding
Corp. (HUVL), headquartered in Yonkers,
NY, is the parent company of Hudson
Valley Bank (HVB). Hudson Valley
Bank is a Westchester based
bank with more than $2.8 billion in
assets, serving the metropolitan area with 37 branches located in
Westchester, Rockland, the Bronx, Manhattan, Queens and Brooklyn in New
York and Fairfield County
and New Haven County, in
Connecticut. HVB specializes in
providing a full range of financial services to businesses,
professional services firms, not-for-profit organizations and
individuals; and provides investment management services through a
subsidiary, A. R. Schmeidler &
Co., Inc. Hudson Valley Holding Corp.'s common stock is traded on
the NASDAQ Global Select Market under the ticker symbol "HUVL" and
is included in the Russell 3000® Index. Additional information on
Hudson Valley Bank can be obtained
on their web-site at www.hudsonvalleybank.com
SOURCE Hudson Valley Holding Corp.