GLENS FALLS, N.Y. -- Arrow Financial Corp, announced a 4% stock dividend, payable Nov. 9.

Shareholders of record Oct. 12 will get an additional share of common stock for every 25 shares they already own. Cash will be issued for any fractional shares.

The stock dividend comes after a Sept. 15 cash dividend of 11 cents a share, a 37.5% increase from the company's June 15 cash dividend.

Arrow, with 30 branches, is the holding company for Glens Falls National Bank and Trust Co., Glens Falls; Saratoga National Bank and Trust Co., Saratoga; and Green Mountain Bank, Rutland, Vt.

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