GREEN BAY, Wis., April 21, 2015 /PRNewswire/ -- Associated Banc-Corp (NYSE: ASB) ("Associated") today announced the results of the actions taken at its 2015 Annual Meeting of Shareholders.
The following directors were re-elected:
- William R. Hutchinson, chairman, Associated Banc-Corp, and president, W.R. Hutchinson & Associates, Inc.
- Philip B. Flynn, president and chief executive officer, Associated Banc-Corp
- John F. Bergstrom, chairman and chief executive officer, Bergstrom Corp.
- Ruth M. Crowley, executive vice president, Summit Resources International
- R. Jay Gerken, director of 18 mutual funds associated with Sanford C. Bernstein Fund, Inc.
- Robert A. Jeffe, managing partner and founder, Source Rock Energy Partners
- Eileen A. Kamerick, chief financial officer, ConnectWise.com, Inc.
- Richard T. Lommen, chairman, Courtesy Corp.
- Cory L. Nettles, founder and managing director, Generation Growth Capital, Inc.
- J. Douglas Quick, chairman, Lakeside Foods, Inc.
- Karen T. van Lith, business consultant
- John (Jay) B. Williams, chairman, Milwaukee Public Museum
Shareholders also (1) approved named executive officer compensation, and (2) ratified the selection of KPMG LLP as Associated's independent accounting firm for 2015.
The Associated Board of Directors declared a regular quarterly cash dividend of $0.10 per common share, payable on June 15, 2015, to shareholders of record at the close of business on June 1, 2015.
The Board of Directors also declared a regular quarterly cash dividend of $0.50 per depositary share on Associated's 8.00% Series B Perpetual Preferred Stock to shareholders of record at the close of business on June 1, 2015, with the dividend payable date of June 15, 2014.
In addition, the Board authorized the repurchase of up to $125 million of Associated's common stock. This repurchase authorization is in addition to the previously authorized common stock repurchase program announced on October 28, 2014. There remains approximately $46 million under the previous authorization or approximately $171 million in the aggregate. Repurchases under such programs are subject to regulatory limitations and may occur from time to time in open market purchases, block transactions, accelerated share repurchase programs or similar facilities.