Home Savings’ parent company declares stock dividend, not cash

YOUNGSTOWN — The parent company of Home Savings and Loan Co. declared its first dividend of stock instead of cash.

Shareholders of United Community Financial Corp. will receive 0.028 share of stock for each share that they own. Fractions of shares will not be issued, so fractional dividend amounts will be rounded up to the nearest whole share.

That means someone with 100 shares would receive three additional shares.

The dividend would be worth 9.5 cents per share based on UCFC’s average closing price of $3.36 for the 20 trading days ended Nov. 12.

The dividend will be paid Dec. 9 to shareholders of record as of Nov. 24.

For more information, see Tuesday’s Vindicator or www.vindy.com.