NEW?ULM - Citizens Bancorporation of New Ulm, Inc., parent company of Citizens Bank Minnesota, has declared a cash dividend and a split in the shares of its common stock.
A dividend of $1.60 per share was paid to all shareholders of record as of May 9, 2013. That was an increase of $0.10 per share from the last dividend paid in November of 2012.
On June 13, 2013 the company also split its shares of common stock, issuing five shares for each share previously held. To accomplish the split the company has called in all common stock certificates and has converted to a direct registration system that provides for electronic registration of stock ownership.
Citizens Bancorporation of New Ulm, Inc. is a privately held company based in New Ulm and owned by approximately 400 shareholders predominantly from the New Ulm area. Its sole subsidiary, Citizens Bank Minnesota, is a $330 million community bank with its main office in New Ulm, and branch offices in Lafayette, La Salle and Lakeville.