Alerus Financial raises dividend, approves new buyback program

Alerus Financial Corporation (NASDAQ: ALRS) declared a quarterly cash dividend of $0.22 per common share, representing a 4.76% increase over the dividend paid a year ago, according to a company statement.

The dividend was declared by the board of directors on August 26, 2026, and is payable on October 9, 2026, to stockholders of record as of the close of business on September 25, 2026.

The board also approved a new stock repurchase program authorizing the company to buy back up to 1,250,000 shares of its common stock. The new program will take effect when the company's existing repurchase program — which authorized up to 1,000,000 shares and was announced on December 14, 2023 — is either fully utilized, expired, or terminated early. The new repurchase program is set to expire on August 26, 2029.

The company noted that the new program does not obligate it to repurchase any shares and that repurchases would generally be made in the open market based on market conditions.

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