Friday, September 01, 2006

CFCP - 10% Stock Dividend

Coastal Financial Corp. (CFCP) will soon be paying a 10% stock dividend and restating past earnings as a result of the dividend. Ex-date is Sep 6. This is an unusual company in that they have a history of paying 10% stock dividends, this latest one being the 7th time. There wasn't much of a move in CFCP's stock price on Aug 24 or 25, around when the 10% dividend was announced. The stock is thinly traded, with an average daily volume of about 30,000 shares. Today's trading was 12,558 shares.


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