Arrow Financial to pay out stock dividend

Arrow Financial to give shareholders a dividend of 3 extra shares for every 100 they own

• On 7:24 am EDT, Thursday August 27, 2009

GLENS FALLS, N.Y. (AP) -- Bank holding company Arrow Financial Corp. has declared a 3 percent stock dividend, which it will distribute to shareholders on Sept. 29.

Holders of record on Sept. 18 will receive three additional shares of Arrow common stock for every 100 shares they own. They will receive the cash equivalent of any fractional shares to which they are entitled, as no partial shares will be issued.

Arrow is the parent of Glens Falls National Bank and Trust Co. and Saratoga National Bank and Trust Co. Other subsidiaries include North Country Investment Advisers Inc. and insurance agency Capital Financial Group Inc.