Alerus Financial Corporation Declares Cash Dividend on Common Shares

Rhea-AI Summary

Alerus Financial Corporation (NASDAQ: ALRS) announced a $0.18 quarterly cash dividend, marking a 12.5% increase from the previous year. The dividend is payable on April 14, 2023, to shareholders on record as of March 15, 2023. Alerus is a diversified financial services company offering solutions in banking, retirement, wealth management, and mortgage sectors. The company continues to support its clients with competitive products and digital solutions.

Positive

• Quarterly cash dividend increased by 12.5% to $0.18 per share.
• Dividend payment reaffirms company confidence and shareholder value.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- Alerus Financial Corporation (NASDAQ: ALRS) announced that its board of directors declared a regular quarterly cash dividend of $0.18 per common share, a 12.5% increase over the dividend paid a year ago. The dividend is payable on April 14, 2023, to shareholders of record as of close of business on March 15, 2023. 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 is a diversified financial services company with corporate offices in Grand Forks, North Dakota, and the Minneapolis-St. Paul, Minnesota metropolitan area. Through its subsidiary, Alerus Financial, N.A., Alerus provides innovative and comprehensive financial solutions to business and consumer clients through four distinct business segments—banking, retirement and benefit services, wealth management, and mortgage. 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, mortgage, and wealth management offices in Grand Forks and Fargo, North Dakota, the Minneapolis-St. Paul, Minnesota metropolitan area, and Phoenix, Scottsdale, and Mesa Arizona. Alerus Retirement and Benefits plan administration hubs are in Minnesota, Michigan, and Colorado.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230221005744/en/

Missy Keney, Investor Relations

701.280.5120 (Office): 218.791.6818 (Cell)

missy.keney@alerus.com

investors.alerus.com

Source: Alerus Financial Corporation

FAQ

What is the dividend amount declared by Alerus Financial Corporation?

Alerus Financial Corporation declared a quarterly cash dividend of $0.18 per share.

When will the dividend be paid to shareholders of ALRS?

The dividend will be paid on April 14, 2023, to shareholders of record as of March 15, 2023.

What is the significance of the 12.5% increase in the dividend?

The 12.5% increase in the dividend reflects the company's commitment to returning value to shareholders.

Where can I find more information about Alerus Financial Corporation's financials?

Additional information on Alerus Financial Corporation's financials can be found on their investor relations website.