Salisbury Bancorp, Inc. (“Salisbury”), (NASDAQ Capital Market: “SAL”), the holding company for Salisbury Bank and Trust Company (the “Bank”), announced today that Salisbury’s shareholders, at its Annual Meeting held on May 18, 2022, approved an amendment to Salisbury’s Certificate of Incorporation to increase Salisbury’s authorized shares of Common Stock from 5,000,000 to 10,000,000 shares. Additionally, the Board announced that it has approved and declared a two-for-one forward split of the shares of Salisbury’s Common Stock as a means of enhancing the liquidity and marketability of Salisbury’s securities in the best interests of shareholders.
The stock split, which will result in every one (1) share of Salisbury common stock being converted into two (2) shares of Salisbury’s Common Stock, will not have any impact on the voting and other rights of shareholders and will have no impact on Salisbury’s business operations.
The two-for-one stock split will be in the form of a stock dividend to shareholders of record as of June 1, 2022 with an effective date / payment date of the stock dividend of June 30, 2022.
