BRIEF: Associated Bank raises dividend, to buy back shares
Nov 13, 2012 (Milwaukee Journal Sentinel - McClatchy-Tribune Information Services via COMTEX) --
The parent company of Associated Bank said Tuesday it has raised its quarterly cash dividend to 8 cents a share, a boost of 3 cents.
The increase in the dividend follows a consistent return to profitability for Green Bay-based Associated Banc-Corp.
The company's dividend was 32 cents in 2008, before the economic downturn forced many banks to slash their dividends in an effort to preserve capital. Capital at a bank serves as a cushion against loan losses.
Associated trimmed the dividend to 5 cents that year, then in early 2010 cut it again, to 1 cent per share. It was raised back to a nickel in February of this year.
The new 8 cent a share dividend is payable Dec. 17 to shareholders of record Dec. 3.
Associated's board also said Tuesday it also has authorized the repurchase of up to $125 million shares of its common stock.
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