First Financial Bankshares Inc. in Abilene, Texas, is planning a three-for-two split of its common stock.
The $3.83 billion-asset company said the split will take the form of a 50% stock dividend, which it will distribute on June 1 to shareholders of record on May 15.
During Tuesday's annual meeting, shareholders approved advisory votes on two proposals involving executive compensation, related to new rules associated with the Dodd-Frank Act.
One proposal lets shareholders express support for the board's compensation for named executive officers and the executive compensation philosophy, policies and programs. Another allows shareholders to hold annual advisory votes on executive compensation.
