Camden National Corp.’s board of directors has approved a three-for-two stock split that is scheduled to occur on Sept. 30.

The Camden-based company, which owns Camden National Bank and Acadia Trust, said it has achieved “strong financial results” through the first six months of 2016 as it continues to realize the benefits of its acquisition of SBM Financial Inc., the parent company of The Bank of Maine.

“We believe this stock split will place the market price of the company’s common stock in a more attractive range for investors and, by increasing the number of shares outstanding, we also expect this action will help increase the liquidity of the company’s common stock,” Camden National President and CEO Gregory Dufour said in a news release.

Under the stock split, existing shareholders as of Sept. 15 will receive a dividend on Sept. 30 of one additional share for every two shares they own. Fractional shares will be paid out in cash, the company said. The price paid for fractional shares will be the closing price on the last trading day immediately prior to the split, it said.

Camden National has $3.9 billion in assets and is the largest publicly traded bank holding company in northern New England, It employs more than 650 people and has 63 bank branches and 85 ATMs in Maine.

Its stock trades on the Nasdaq exchange under the symbol CAC. As of 10 a.m. Wednesday, Camden stock was trading at $46.15 a share, up 25 cents from the previous day’s closing price.


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