The South Financial Group declares cash dividend, issues preferred stock

Regional Bank The South Financial Group, Inc. (Nasdaq:TSFG) said this morning that it will declare a cash dividend and issue 250,000 shares of mandatory convertible non-cumulative preferred stock in an effort to boost liquidity and shore up its balance sheet.

Shares gained 3.56%, or $0.22, to $6.40 out of the gate. For detailed price information and recent news stories about The South Financial Group, click TSFG.

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