Sun Bancorp Inc. of Vineland said today it declared a 5 percent stock dividend, payable May 24 to shareholders of record on May 14.
It is the 12th straight year in which the the company, the parent of Sun National Bank, has declared a stock dividend. This one will increase the number of outstanding shares by about 1 million, to 21.63 million shares.
The bank has about $3.3 billion in assets and more than 70 branches in Southern and Central New Jersey and New Castle County, Del. Its shares were down 13 cents to $19.05 this morning in Nasdaq trading.