This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

First Financial Bankshares Announces Three-for-Two Stock Split And Cash Dividend At Annual Meeting

ABILENE, Texas, April 26, 2011 /PRNewswire/ -- In connection with the 2011 Annual Shareholders' Meeting, the Board of Directors of First Financial Bankshares, Inc. (NASDAQ: FFIN) today declared a three-for-two stock split in the form of a 50 percent stock dividend.  The stock split will be effective for shareholders of record on May 15, 2011, with distribution on June 1, 2011.  The Board also declared a $0.24 per share cash dividend for the second quarter, which will be paid to shareholders of record on June 15, 2011, with payment set for July 1, 2011.

"We are pleased to announce this stock split and an increase in the cash dividend," said F. Scott Dueser, Chairman, President and CEO.  "When adjusted for the stock split, the new cash dividend represents a 5.9 percent increase for our shareholders."  

Shareholders reelected 10 existing members of the Board of Directors: Steven L. Beal, Retired President and Chief Operation Officer of Concho Resources Inc., Brownwood; Tucker S. Bridwell, President of Mansfeldt Investment Corporation, Abilene; Joseph E. Canon, Executive Director of the Dodge Jones Foundation, Abilene; David Copeland, President, SIPCO, Inc., and Shelton Family Foundation, Abilene; F. Scott Dueser, Chairman, President & CEO, First Financial Bankshares, Inc., Abilene; Murray Edwards, Principal, The Edwards Group, Clyde; Ron Giddiens, investment and business consulting, San Angelo; Kade Matthews, ranching and investments, Amarillo; Dian Graves Stai, Chair, Diane Graves Owen Foundation, Fredericksburg; and Johnny E. Trotter, President and CEO, Livestock Investors, Ltd., Hereford.

Shareholders recognized Derrell E. Johnson, former President and CEO, Rady and Associates, Southlake, who retired from the board of directors after 11 years of service.

In other business, shareholders approved advisory votes on two proposals involving compensation of named executive officers, pursuant to new rules adopted by the Securities and Exchange Commission under the Dodd-Frank Wall Street Reform and Consumer Protection Act.  The first proposal, commonly referred to as a "say-on-pay" proposal, allowed shareholders to express their support for the Board of Directors' compensation for named executive officers and the executive compensation philosophy, policies and programs.  In the second proposal, shareholders approved the frequency of the "say-on-pay" advisory vote on executive compensation on an annual basis instead of every two or three years.  

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs