MILWAUKEE, Feb. 6, 2017 /PRNewswire/ -- Bank Mutual
Corporation (NASDAQ: BKMU) announced that its Board of Directors
declared a quarterly cash dividend of $0.055 per share. The cash dividend will be
paid on February 27, 2017, to
shareholders of record on February 17,
2017.
Bank Mutual Corporation also announced that its Board of
Directors approved a new stock repurchase program to replace a
previous plan that expired on February
1, 2017. Under the plan approved today, Bank Mutual
Corporation may repurchase up to 500,000 shares of its common
stock, which represents 1.1% of its currently outstanding
shares. Repurchases may be made from time to time and will be
effectuated through open market purchases, unsolicited negotiated
transactions, or in such other manner deemed appropriate by
management. The repurchase program does not specify the timing of
purchases or the prices to be paid. Bank Mutual Corporation's
repurchase activities will take into account SEC safe harbor rules
and guidance for issuer repurchases.
The cash dividend is the sixty-fifth quarterly cash dividend
paid by Bank Mutual Corporation since becoming a capital stock
organization. Bank Mutual Corporation is the third largest
banking institution headquartered in the state of Wisconsin, with assets of $2.6 billion on December
31, 2016. Its subsidiary bank, Bank Mutual, operates
64 offices in the state of Wisconsin and one office in Minnesota.
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SOURCE Bank Mutual Corporation