Message #6 From:
NewsBot Date: November 14, 2005 08:39:00 AM
LCNB News LCNB Corp. Declares Fourth Quarter Dividend and Extends Share Repurchase Program
LEBANON, Ohio--(BUSINESS WIRE)--Nov. 14, 2005--The Board of Directors of LCNB Corp. (OTCBB:LCNB) meeting today declared a Fourth Quarter Dividend of $.29 per share to be paid on December 15, 2005 to shareholders of record December 1, 2005.
In addition, the Board extended the "Market Repurchase Program" for the purchase by the company of LCNB Corp stock by increasing the shares authorized for repurchase to 200,000 total shares.
On April 17, 2001, LCNB's Board of Directors originally authorized three separate stock repurchase programs, two phases of which continue. The shares purchased are being held for future corporate purposes.
Under the "Market Repurchase Program" LCNB was authorized to purchase up to 100,000 shares of its stock through market transactions with a selected stockbroker. Through November 14, 2005, 95,422 shares have been purchased under this program.
The "Private Sale Repurchase Program" was also authorized for shareholders who wish to sell large blocks of stock at one time. Because LCNB's stock is not widely traded, a shareholder releasing large blocks may not be able to readily sell all shares through normal procedures. Purchases of blocks will be considered on a case-by-case basis and will be made at prevailing market prices. There is no limit to the number of shares that may be purchased under this program. A total of 178,344 shares have been purchased under this program since its inception.
LCNB Corp. is a financial holding company headquartered in Lebanon, Ohio. Affiliates of LCNB Corp. are Lebanon Citizens National Bank, founded in 1877, with twenty-one offices located in Warren, Butler, Clinton, Clermont, and Hamilton Counties, Ohio, and Dakin Insurance Agency, Inc., founded in 1876. Additional information about LCNB Corp. and information about products and services offered by Lebanon Citizens National Bank and Dakin Insurance Agency can be found on the Internet at www.lcnb.com and www.dakin-ins.com.
