MINNEAPOLIS - Metropolitan Financial Corp. said it will increase its quarterly cash dividend by 3 cents, to 10 cents a share, payable Jan. 29 to shareholders of record on Jan. 15.
"The increase is indicative of the board's confidence that the company will continue its earnings and growth momentum," said Norman M. Jones, chairman and chief executive officer of the fast-growing, $5.1 billion-asset thrift company.
The directors also declared a dividend of 72 cents a share on the $2.875 cumulative perpetual preferred stock, Series B, payable on the same dates as the common dividend.
Metropolitan's subsidiary, Metropolitan Federal Bank of Fargo, N.D., reported that its tangible, core, and risk-based capital ratios were 7.45%, 8.12%, and 15.57%, respectively, on Sept. 30.
