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Park Sterling to issue first dividend

Park Sterling Bank said today that it would issue its first stock dividend to shareholders. The dividend will be effected as an 11-for-10 split, which means that shareholders will get an extra share for every 10 they hold.

Charlotte-based Park Sterling opened about two years ago and has assets of more than $380 million. Its shares are trading around $10.50 on the Over the Counter Bulletin Board.