Camden National Corp. announced Aug. 31 that its board of directors has approved a three-for-two stock split in the form of a stock dividend on the company’s common stock. The three-for-two stock split is payable Sept. 30, to its common shareholders of record at the close of business Sept. 15.

Shareholders will receive cash in lieu of any fractional share of common stock that they otherwise would have been entitled to receive in connection with the split, except that participants in the company’s Dividend Reinvestment & Direct Stock Purchase and Sale Plan will have fractional shares credited to their accounts. The price paid for fractional shares will be the closing price the last trading day immediately prior to record date.

“We believe this stock split will place the market price of the company's common stock in a more attractive range for investors and, by increasing the number of shares outstanding, we also expect this action will help increase the liquidity of the company's common stock," said Camden National President and CEO Gregory A. Dufour.