Orange County Bancorp Inc. Announces Stock Split Record Date Change in Honor of National Day of Mourning for Former President Jimmy Carter
MIDDLETOWN, N.Y., Jan. 02, 2025 (GLOBE NEWSWIRE) — Orange County Bancorp, Inc. (the “Company” – Nasdaq: OBT), parent company of Orange Bank & Trust Co. and Hudson Valley Investment Advisors, Inc., today announced that the record date of its previously declared two-for-one forward stock split (the “Stock Split”) of the Company’s common stock will be Wednesday, January 8, 2025 as a result of U.S. equity markets closing on January 9, 2025 to observe and honor the passing of former President Jimmy Carter. Each record holder of common stock on Wednesday, January 8, 2025 will receive one additional share of common stock after the market close on Friday, January 10, 2025. Trading is expected to commence on a split-adjusted basis at market open on Monday, January 13, 2025.
How Will This Impact Me?
As a shareholder of Orange County Bancorp Inc., this stock split record date change means that you will receive an additional share for each share you currently hold. This could potentially increase the number of shares you own, which may have a positive impact on your overall investment in the company.
How Will This Impact the World?
While the impact of this stock split on the world at large may be minimal, the decision to change the record date in honor of the National Day of Mourning for Former President Jimmy Carter shows the company’s respect and acknowledgement of significant events and public figures. It sets a precedent for corporate action in response to national events and highlights the importance of recognizing and honoring those who have made a significant impact on society.
Conclusion
In conclusion, the announcement of the stock split record date change by Orange County Bancorp Inc. reflects not only a financial decision but also a tribute to a former President. This demonstrates the company’s commitment to both its shareholders and the larger community.
