Associated Banc-Corp increases quarterly dividend following annual shareholders' meeting.GREEN BAY, Wis.--(BUSINESS WIRE)--April 23, 1997--Associated Banc-Corp (NASDAQ/NMS:ASBC ASBC American Society of Brewing Chemists (St. Paul, MN) ASBC American Small Business Coalition ASBC Air and Space Basic Course (USAF) ASBC Archaeological Society of British Columbia ) Chairman and Chief Executive Officer H.B. Conlon announced a 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. quarterly cash dividend. This will result in a 20 percent increase in the quarterly cash dividend paid. The dividends anticipated to be paid in 1997 represent an increase of 16.8 percent over those paid in 1996. The regular cash dividend, equal to $1.16 per share on an annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. basis, is payable on May 15, 1997, to shareholders of record May 6, 1997. This is the 108th consecutive quarter Associated has paid a cash dividend since its origin in May of 1970. The increase in cash dividends was announced after the company's annual shareholders' meeting shareholders' meeting n. a meeting, usually annual, of all shareholders of a corporation (although in large corporations only a small percentage attend) to elect the Board of Directors and hear reports on the company's business situation. at the Oshkosh Hilton and Convention Center in Oshkosh, Wis. Three directors with expiring terms were reelected at the meeting and shareholders approved an increase in shares available under the company's Long-Term Incentive Stock Option Plan. In prepared remarks, Conlon said, "Our corporate strategy over the past two years and our strategy for the rest of the decade will be quite consistent -- we plan to continue to meet or exceed our published 5-year financial goals." He added, "We believe that Associated's four major strategies -- enhance revenue from existing and new sources; increase our relationships with existing and new customers; enhance our systems and technology; and corporate development -- will continue to guide us in our mission of being a growing community banking and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company that remains close to its customers and communities." Vice Chairman Robert C. Gallagher commented on Associated's progress toward creating the "Associated Way" under its technology/operations and communications systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. project initiated in 1995. Gallagher noted, "In 1996 we consolidated our deposit operations and check processing activities, and developed a Customer Call Center in a remodeled 85,000 square foot building that our associates have named `The Service Center.'" Gallagher added, "In 1997 we will be installing new platform systems, completing the standardization standardization In industry, the development and application of standards that make it possible to manufacture a large volume of interchangeable parts. Standardization may focus on engineering standards, such as properties of materials, fits and tolerances, and drafting and centralization cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. of our loan operations and begin integrating the banks we acquired over the past 15 months." Conlon concluded, "We believe that all we are doing internally and externally to create `The Associated Way' of doing business will continue to benefit our shareholders. In fact, over the past five years, our shareholders have averaged a total return of 21.7 percent." In other business, shareholders reelected three directors with expiring terms to serve until 2000. Reelected were: Harry B. Conlon, chairman, president 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. ; Ronald R. Harder, president and chief executive officer of Jewelers Mutual Insurance Co., Neenah, Wis.; and J. Douglas Quick, president and chief executive officer of Lakeside Foods Inc., Manitowoc, Wis. Directors continuing in office are: Robert Feitler, chairman of the executive committee of WEYCO Group Inc., Milwaukee; Robert C. Gallagher, vice chairman of the company and chairman and chief executive officer of Associated Bank Green Bay; John S. Holbrook Jr., partner in the Madison, Wis., office of Quarles & Brady law firm; William R. Hutchinson, vice president of financial operations of Amoco Corp., Chicago; James F. Janz, senior vice president of Zilber, Ltd., a Milwaukee-based holding company with subsidiaries involved in real estate development and management and financial services; and John C. Meng, president and chief executive officer of Schreiber Foods Schreiber Foods, Inc., is the world's second largest cheese producer. [1] It is an employee-owned private-label cheese company headquartered in Green Bay, Wisconsin. Inc., Green Bay. Associated Banc-Corp, headquartered in Green Bay, is a diversified 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 98 banking locations in 67 communities in Wisconsin and Illinois. The $4.5-billion company offers a full range of traditional banking services and a variety of financially related products and services through other Associated affiliates. Associated currently has 22.4 million shares of common stock outstanding to nearly 6,000 registered holders. CONTACT: Associated Banc-Corp, Green Bay Analysts: Joseph P. Selner, 414/433-3203 Media: Mary K. Magyar, 414/433-3268 |
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