8-K 1 form8kcashdividendandtsbuy.htm 8-K Document


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
CURRENT REPORT
 
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
 
 
Date of Report (date of earliest event reported): October 30, 2019
 
 
ARROW FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
 
New York
000-12507
22-2448962
(State or other jurisdiction of incorporation or organization)
Commission File Number
(IRS Employer Identification No.)
 
250 GLEN STREET,
GLENS FALLS, NY 12801
12801
(Address of principal executive offices)   
Zip Code
 
 (518) 745-1000
(Registrant’s telephone number, including area code)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter).
 
 
 
 Emerging growth company o    
 
 
 
 
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o






Item 8.01.     Other Events

On October 30, 2019, the Board of Directors of the Company approved a new stock repurchase program authorizing the repurchase, at the discretion of senior management, of up to $5 million of the Company’s common stock over the calendar year 2020, in open-market or negotiated transactions. This new repurchase program will replace the prior $5 million repurchase program authorized on January 30, 2019, which expires December 31, 2019. Through September 30, 2019, the Company had repurchased approximately $1.24 million of Company common stock under the 2019 program.
Additionally, on October 30, 2019, the Company announced that the Board of Directors had declared a quarterly cash dividend of $0.26 per share payable December 13, 2019 to shareholders of record on December 3, 2019.
Copies of the press releases announcing the 2020 Stock Repurchase Program and the Quarterly Cash Dividend are furnished as Exhibit 99.1 and Exhibit 99.2 to this report on Form 8-K.


Item 9.01.    Financial Statements and Exhibits

Exhibit No. Description





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
 
ARROW FINANCIAL CORPORATION
 
 
                       Registrant
 
 
 
Date:
October 30, 2019
/s/ Edward J. Campanella
 
 
Edward J. Campanella,
Senior Vice President, Treasurer and
Chief Financial Officer