Verus Bank set to issue 4th straight annual dividend
FORT COLLINS — Verus Bank of Commerce, a locally owned community bank in Fort Collins, announced Friday it will be pay a fourth consecutive annual dividend in January to its approximately 350 shareholders.
The 94-cent per share dividend represents a roughly 17 percent annualized return on shareholder equity, said Mark Kross, co-president of the bank.
“To put this in context, the average bank dividend is roughly 1.39 percent, and the highest we can find in the nation is a bank paying 8.04 percent,” he said in a prepared statement. “To the best of our knowledge, this annual dividend is substantially higher than the industry, and likely the highest in the nation.”
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Co-president Gerard Nalezny said cumulative dividends over the past four years have totaled almost $15 million. The bank was established in 2005 with about 300 shareholders.
FORT COLLINS — Verus Bank of Commerce, a locally owned community bank in Fort Collins, announced Friday it will be pay a fourth consecutive annual dividend in January to its approximately 350 shareholders.
The 94-cent per share dividend represents a roughly 17 percent annualized return on shareholder equity, said Mark Kross, co-president of the bank.
“To put this in context, the average bank dividend is roughly 1.39 percent, and the highest we can find in the nation is a bank paying 8.04 percent,” he said in a prepared statement. “To the best of our knowledge, this annual dividend is substantially higher than…
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