Associated Banc-Corp declares quarterly cash dividend and 20 percent stock dividend.GREEN BAY, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. .--(BUSINESS WIRE)--Jan. 22, 1997--Associated Banc-Corp (NASDAQ/NMS) today announced the declaration of the company's regular quarterly cash dividend and the awarding of a 6-for-5 stock split to be effected as a 20 percent stock dividend. H.B. Conlon, chairman and chief executive officer of Associated Banc-Corp Associated Banc-Corp is a bank holding company headquartered in Green Bay, Wisconsin. As of early 2007, it had $20.8 billion in assets and was the 41st largest bank holding company in the United States.[1] The company has over 5101 employees. reported that the company's board of directors approved a regular quarterly cash dividend in the amount of 29 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . The board also approved a 6-for-5 stock split to be effected as a 20 percent stock dividend. The regular quarterly cash dividend, equal to $1.16 per share on an annual basis, is payable on Feb. 14, 1997 to shareholders of record as of Feb. 4, 1997. This is the 107th consecutive quarter Associated has paid a cash dividend since its origin in 1970. Associated has 18.4 million shares of common stock outstanding to over 5,000 registered shareholders. The 6-for-5 stock split to be effected in the form of a 20 percent stock dividend is payable on March 17, 1997 to shareholders of record at the close of business on March 5, 1997. Any fractional shares Fractional share Stocks amounting to less than one full share, usually resulting from splits, acquisitions, exchanges, or dividend reinvestment programs. fractional share Less than one share of stock, that is, one-third or one-half a share. resulting from the dividend will be paid in cash. It is the current intention of the board to declare cash dividends on the Associated Common Stock following the stock dividend, initially in the amount of 29 cents per quarter, or $1.16 per year, in each case per share. This would result in a 20 percent increase in the cash dividend declared in the 1997-second quarter. Shareholders should note that no such dividends have been declared and that future dividends will be determined by Associated's board in light of the earnings and financial condition of Associated and its subsidiaries. The announcement of the cash dividend and the 6-for-5 stock split to be effected in the form of a 20 percent stock dividend follows Associated's report of record earnings for 1996. Net income for the year ended Dec. 31, 1996 was $57.2 million, 19.2 percent higher than the $48.0 million reported for the year ended 1995. Associated Banc-Corp, headquartered in Green Bay, is a diversified diversified (di·verˑ·s multibank holding company Noun 1. multibank holding company - a bank holding company owning several banks bank holding company - a holding company owning or controlling one or more banks with 95 banking locations in Wisconsin Wisconsin, state, United States Wisconsin (wĭskŏn`sən, –sĭn), upper midwestern state of the United States. It is bounded by Lake Superior and the Upper Peninsula of Michigan, from which it is divided by the Menominee and Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. . The $4.42-billion company offers a full-range of traditional banking services and a variety of financially related products and services through other Associated affiliates. CONTACT: Associated Banc-Corp, Green Bay Analysts: Joseph B. Selner, 414/433-3203 Media: Mary K. Magyar, 414/433-3268 |
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