UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report: March 6, 1997
(Date of Earliest Event Reported): (February 26, 1997)
SCOTT & STRINGFELLOW FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
Commission File Number 0-15105
Virginia 54-1315256
State or other jurisdiction I.R.S. Employer
of incorporation Identification No.
909 East Main Street Richmond, Virginia 23219
(Address of principal executive office) (Zip Code)
(804) 643-1811
(Registrant's telephone number, including area code)
Page 1 of 2 pages
Item 5. Other Events
On February 26, 1997 Scott & Stringfellow Financial, Inc. announced that its
board of directors had declared a three for two stock split to be effected in
the form of a 50 percent stock dividend in addition to a regular quarterly cash
dividend of $.12 per common share. The stock dividend will be distributed on
May 6, 1997 to shareholders of record on April 18, 1997. The stock dividend
will increase the number of common shares outstanding to approximately 3.12
million shares from approximately 2.08 million shares.
The board's stock dividend action is intended to increase the liquidity of the
common stock and help maintain an active market.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit 28: February 26, 1997 Press Release
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SCOTT & STRINGFELLOW FINANCIAL, INC.
By:/s/ Mike D. Johnston March 6, 1997
Mike D. Johnston Date
First Vice President and
Chief Financial Officer
EXHIBIT 28 - OTHER INFORMATION
* * * NEWS RELEASE * * *
FOR IMMEDIATE RELEASE For Further Information:
Mike D. Johnston (804) 780-3231
John Sherman Jr. (804) 782-8756
February 26, 1997
SCOTT & STRINGFELLOW ANNOUNCES 3 FOR 2 STOCK SPLIT
AND REGULAR QUARTERLY CASH DIVIDEND
RICHMOND, Va---Scott & Stringfellow Financial Inc. (Nasdaq NMS: SCOT) today
reported that its board of directors has approved a three for two stock split
to be effected in the form of a 50 percent stock dividend. The board also
declared a regular quarterly cash dividend of $.12 per common share.
The stock dividend will be distributed on May 6, 1997, to shareholders of
record on April 18, 1997, and the quarterly cash dividend will be paid on April
15, 1997, to shareholders of record on March 27, 1997. The stock dividend will
increase the number of common shares outstanding to approximately 3.12 million
shares from approximately 2.08 million shares.
According to Scott & Stringfellow President and Chief Executive Officer John
Sherman Jr., the board's stock dividend action is intended to increase the
liquidity of the common stock and help maintain an active market.
The rate for the quarterly cash dividend following the stock split will be
considered by the company's board of directors at their regular meeting in May.
Scott & Stringfellow Financial Inc. is a publicly-held holding company which
operates Scott & Stringfellow Inc. founded in 1893 and the South's oldest member
of the New York Stock Exchange, and Scott & Stringfellow Capital Management
Inc., a 15-year-old investment advisory firm with approximately $430 million in
assets under management. The company has approximately 542 employees, including
235 investment brokers, located in 29 offices in Virginia, North Carolina, South
Carolina and West Virginia. Scott & Stringfellow Financial Inc. common stock
trades on the Nasdaq National Market System under the symbol SCOT.
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