The board of LakelandFinancial Corp. authorized a 3-for-2 stock split.

It will be paid out in the form a 50% stock dividend Aug. 5 tothe Warsaw, Ind.-based company's shareholders of record as of July 25. If the stocksplit results in fractional shares, those will be paid in the form of cash, basedon the average of Lakeland's closing prices over the five trading days before thepayment date.

Lakeland has also kept its quarterly cash dividend at 28 centsper share. It will be paid based on the number of shares held before the stock split.