DURHAM, N.C. -- The board of CCB Financial Corp. approved a three-for-two stock split in the form of a 50% stock dividend. The company also declared a cash dividend of 30 cents a share per quarter, or $1.20 a year. The present annual dividend, adjusted for the split, comes to $1.08 a share.

The dividends are payable Oct. 1 to shareholders of record on Sept. 15. CCB has increased its dividend for 28 consecutive years.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.