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: August 28, 1998.
Date of earliest event reported: August 20, 1998.
FLUSHING FINANCIAL CORPORATION
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(Exact name of registrant as specified in its charter)
000-24272
(Commission File Number)
DELAWARE 11-3209278
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation) Number)
144-51 NORTHERN BOULEVARD
FLUSHING, NEW YORK 11354
(Address of principal executive offices) (Zip code)
(718) 961-5400
(Registrant's telephone number, including area code)
Not Applicable
(Former name of former address, if changed since last report)
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Item 5. OTHER EVENTS
See press release attached as Exhibit 1 regarding three for two stock
split in the form of a 50% stock dividend, payable on September 30, 1998.
Shareholders will receive one additional share for every two shares of the
Corporation's common stock held at the record date, September 10, 1998.
Cash will be paid in lieu of fractional shares.
Item 7. EXHIBITS
1. Press release of Flushing Financial Corporation, dated August 20, 1998.
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SIGNATURE
Pursuant to the requirements of Section 12 of the Securities Exchange
Act of 1934, the registrant has duly caused this registration statement to be
signed on its behalf by the undersigned, thereto duly authorized.
Dated: August 28, 1998
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FLUSHING FINANCIAL CORPORATION
By: /s/ James F. McConnell
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Name: James F. McConnell
Title: President and Chief Executive Officer
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INDEX TO EXHIBITS
Exhibit Page
1. Press release of Flushing Financial Corporation,
dated August 20, 1998 6
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EXHIBIT 1.
FFC
FLUSHING
FINANCIAL CORP.
CONTACT:
Michael J. Hegarty Van Negris/Phillip J. Denning
Executive Vice President Kehoe, White, Van Negris & Company, Inc.
Flushing Financial Corporation (212) 396-0606
(718) 961-5400
FOR IMMEDIATE RELEASE
FLUSHING FINANCIAL CORPORATION APPROVES 3 FOR 2 STOCK SPLIT
AND RAISES DIVIDEND
FLUSHING, NY -- AUGUST 20, 1998 -- Flushing Financial Corporation (Nasdaq:
FFIC), the parent holding company for Flushing Savings Bank, FSB, today
announced that the Board of Directors of the Corporation has approved a
three-for-two stock split of the Corporation's common stock to be paid on
September 30, 1998, to stockholders of record at the close of business on
September 10, 1998.
The Corporation also announced that the Board has declared a quarterly cash
dividend in the amount of $0.09 per share payable on September 30, 1998 on the
shares outstanding before the stock split to shareholders of record at the close
of business on September 10, 1998. This dividend is at the annual rate of $0.36
for each share of common stock presently outstanding, representing an increase
of $0.04 per share annually over the previous rate. In terms of shares which
will be outstanding as a result of the three-for-two stock split, the dividend
is at the annual rate of $0.24 per share.
James F. McConnell, Flushing Financial's President and Chief Executive Officer,
stated: "The continued improvement in Flushing's financial position, strong
capital position and operating outlook underlie the Bank's decision to increase
the dividend and to also declare a 50 percent stock dividend, which we believe
will increase our liquidity in the market. The Board will continue to review
future dividend payouts on a quarterly basis."
Flushing Financial Corporation is the holding company for Flushing Savings Bank,
FSB, a federally chartered stock savings bank insured by the FDIC. The Bank
conducts its business through seven banking offices located in Queens, Brooklyn,
Manhattan and Nassau County.
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