Alerus Financial Corporation (ALRS) Declares $0.15 Quarterly Dividend; Announces Stock Repurchase Program

February 22, 2021 5:02 PM EST

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Alerus Financial Corporation (NASDAQ: ALRS) declared a quarterly dividend of $0.15 per share, or $0.6 annualized.

The dividend will be payable on April 9, 2021, to stockholders of record on March 19, 2021, with an ex-dividend date of March 18, 2021.

The annual yield on the dividend is 2.1 percent.

The Company also announced that its board of directors approved a stock repurchase program (the “Program”) which authorizes the Company to repurchase up to 770,000 shares of its common stock, subject to certain limitations and conditions. The Program is effective immediately and will continue for a period ending on February 18, 2024. The Program does not obligate the Company to repurchase any shares of its common stock and there is no assurance that the Company will do so. Based on market conditions, repurchases will generally be made from time to time in the open market.

For a dividend history and other dividend-related data on Alerus Financial Corporation (ALRS) click here.

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