Alerus Financial (NASDAQ:ALRS) to Issue Quarterly Dividend of $0.22

Alerus Financial (NASDAQ:ALRS) announced a quarterly dividend on Thursday, May 21st. Shareholders of record on Friday, June 26th will be paid a dividend of 0.22 per share on Friday, July 10th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, June 26th. This is a 4.8% increase from Alerus Financial’s previous quarterly dividend of $0.21.

Alerus Financial has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 25 years. Alerus Financial has a payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Alerus Financial to earn $2.80 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 31.4%.

Alerus Financial Trading Up 2.1%

Shares of ALRS stock opened at $30.38 on Wednesday. Alerus Financial has a 12-month low of $20.26 and a 12-month high of $30.49. The company has a market capitalization of $763.45 million, a PE ratio of 29.50 and a beta of 0.69. The firm has a 50 day moving average price of $27.64 and a two-hundred day moving average price of $25.21. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.10.

Alerus Financial (NASDAQ:ALRS) last posted its earnings results on Wednesday, April 29th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.58 by $0.31. The company had revenue of $75.78 million for the quarter, compared to the consensus estimate of $73.78 million. Alerus Financial had a return on equity of 14.39% and a net margin of 6.74%. As a group, analysts predict that Alerus Financial will post 2.95 earnings per share for the current year.

Alerus Financial Company Profile

Alerus Financial Corporation (NASDAQ: ALRS) is a diversified financial services company headquartered in Grand Forks, North Dakota. The firm provides a full range of commercial and consumer banking products, including deposit accounts, lending solutions and treasury management services for individuals, small businesses and larger corporate clients. Through its community banking network, Alerus emphasizes local decision-making and personalized service to meet the needs of its varied client base.

In addition to traditional banking offerings, Alerus operates a national mortgage origination and servicing platform that delivers home purchase and refinance loans.