MILWAUKEE, May 2, 2011 /PRNewswire/ -- Bank Mutual Corporation (NASDAQ: BKMU) ("Bank Mutual") today announced that the Board of Directors has declared a quarterly cash dividend of $0.01 per share. The cash dividend will be payable June 1, 2011, to shareholders of record on May 13, 2011.
Michael T. Crowley, Jr., Chairman and Chief Executive Officer of Bank Mutual commented, "The Board set the dividend rate in light of Bank Mutual's earnings level in the first quarter, the current regulatory and economic climate, and our desire to maintain a strong capital position."
The quarterly cash dividend of $0.013 is the forty-second cash dividend paid by Bank Mutual since becoming a capital stock organization in November 2000. The Company is the fifth largest banking institution headquartered in the state of Wisconsin, with assets at March 31, 2011, of $2.5 billion. Its subsidiary bank, Bank Mutual, operates 78 offices in the state of Wisconsin and one office in Minnesota.
SOURCE Bank Mutual Corporation