MACON, Ga. - First Liberty Financial Corp. has redeemed all 460,000 shares of its series A 7.75% cumulative convertible preferred stock. The redemption price was $26.50 a share, plus accrued and unpaid dividends.

The company said it had met the condition for redeeming the stock because its common stock achieved an average market price of at least 135% of the $12.50 conversion price of the preferred stock for a period of 20 days before notice of the redemption.

The company also announced an increase in the quarterly dividend from 10 cents to 13 cents, payable Oct. 1.

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