Alerus Financial Corporation Declares Cash Dividend on Common Shares

Rhea-AI Summary

Alerus Financial (NASDAQ: ALRS) has announced a regular quarterly cash dividend of $0.20 per common share, representing a 5.26% increase compared to the previous year. The dividend will be payable on October 11, 2024, to stockholders of record as of close of business on September 13, 2024. This decision was made by the company's board of directors on August 20, 2024. Alerus provides access to current and historic dividend information, quarterly financial statements, investor presentations, and earnings call transcripts through its investor relations website at investors.alerus.com.

Positive

• Quarterly cash dividend increased by 5.26% year-over-year
• Regular dividend payments indicate financial stability

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- Alerus Financial Corporation (NASDAQ: ALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.20 per common share on August 20, 2024, a 5.26% increase over the dividend paid a year ago. The dividend is payable on October 11, 2024, to stockholders of record as of close of business on September 13, 2024. Current and historic dividend information, as well as quarterly financial statements, investor presentations, and earnings call transcripts are available online through Alerus’ investor relations website at investors.alerus.com.

About Alerus Financial Corporation

Alerus Financial Corporation (Nasdaq: ALRS) is a commercial wealth bank and national retirement services provider with corporate offices in Grand Forks, North Dakota, and the Minneapolis-St. Paul, Minnesota metropolitan area. Through its subsidiary, Alerus Financial, National Association, Alerus provides diversified and comprehensive financial solutions to business and consumer clients, including banking, wealth services, and retirement and benefits plans and services. Alerus provides clients with a primary point of contact to help fully understand the unique needs and delivery channel preferences of each client. Clients are provided with competitive products, valuable insight, and sound advice supported by digital solutions designed to meet the clients’ needs. Alerus has banking and wealth offices in Grand Forks and Fargo, North Dakota, the Minneapolis-St. Paul, Minnesota metropolitan area, and Phoenix and Scottsdale, Arizona. Alerus Retirement and Benefits serves advisors, brokers, employers, and plan participants across the United States.

Forward Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of Alerus Financial Corporation. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the risks described in the “Risk Factors” sections of reports filed by Alerus Financial Corporation with the Securities and Exchange Commission. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240821944939/en/

Al Villalon, Investor Relations

952.417.3733

Al.Villalon@alerus.com

investors.alerus.com

Source: Alerus Financial Corporation

FAQ

What is the new quarterly dividend amount for Alerus Financial (ALRS)?

Alerus Financial (ALRS) has declared a quarterly cash dividend of $0.20 per common share.

When will Alerus Financial (ALRS) pay its latest declared dividend?

The dividend is payable on October 11, 2024, to stockholders of record as of close of business on September 13, 2024.

How much has Alerus Financial (ALRS) increased its dividend compared to last year?

Alerus Financial (ALRS) has increased its dividend by 5.26% compared to the dividend paid a year ago.

Where can investors find more information about Alerus Financial 's (ALRS) dividends and financial statements?

Investors can access current and historic dividend information, quarterly financial statements, investor presentations, and earnings call transcripts through Alerus' investor relations website at investors.alerus.com.