Alpine Banks of Colorado announces common shareholder dividend

Rhea-AI Summary

Alpine Banks of Colorado (OTCQX: ALPIB) announced a quarterly cash dividend of $0.20 per Class B nonvoting common share, to be paid on January 30, 2023. Shareholders of record by January 23, 2023 will receive this payment. The dividend reflects an increase of 11.1% from the previous quarter. Additionally, a $30.00 dividend for Class A voting common shares will also be distributed, although these shares are not publicly traded. The bank continues to operate as a strong, independent entity with a $6.3 billion asset base.

Positive

• Dividend increase of 11.1% shows strong financial performance.
• Dividend payment of $0.20 per share offers income to Class B shareholders.

Negative

• None.

Glenwood Springs, Colo., Jan. 12, 2023 (GLOBE NEWSWIRE) -- Alpine Banks of Colorado (OTCQX: ALPIB) announced today that a quarterly cash dividend of $0.20 per Class B nonvoting common share will be paid on January 30, 2023, to shareholders of record at the close of business on January 23, 2023. Per the Articles of Incorporation, dividends on the Class B nonvoting common stock shall be declared by the Board of Directors equal to one-one-hundred-fiftieth (1/150th) of the amount per share declared by the Board of Directors for each share of Class A voting common stock. Alpine Banks of Colorado Class B nonvoting common shares are publicly traded on the OTCQX® Best Market under the symbol “ALPIB”.

 

Additionally, a quarterly cash dividend of $30.00 per Class A voting common share will be paid on January 30, 2023, to shareholders of record at the close of business on January 23, 2023. Alpine Banks of Colorado Class A voting common shares are not publicly traded.

 

The dividend of $30.00 per Class A voting common share and $0.20 per Class B nonvoting common share represents an increase of 11.1% over the dividend paid in the previous quarter.

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About Alpine Banks of Colorado

Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $6.3 billion, independent, employee-owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado. With banking offices across Colorado’s Western Slope, mountains and Front Range, Alpine Bank employs 890 people and serves 170,000 customers with personal, business, wealth management*, mortgage and electronic banking services. Alpine Bank has a 5-star rating — meaning it has earned a superior performance classification — from BauerFinancial, an independent organization that analyzes and rates financial institutions’ performance in the U.S. Shares of the Class B Nonvoting Common Stock of Alpine Banks of Colorado trade under the symbol “ALPIB" on the OTCQX® Best Market. Learn more at www.alpinebank.com/media.

*Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.

FAQ

When will Alpine Banks of Colorado pay its dividend?

Alpine Banks of Colorado will pay its dividend on January 30, 2023.

What is the dividend amount for Class B shares of ALPIB?

The dividend amount for Class B nonvoting common shares is $0.20.

What is the increase percentage of the dividend for ALPIB?

The dividend has increased by 11.1% compared to the previous quarter.

Who qualifies for the dividend from Alpine Banks of Colorado?

Shareholders of record at the close of business on January 23, 2023, will qualify for the dividend.