Xtend, Inc., the Grand Rapids, Michigan-based multi-owned cooperative CUSOs, announced that its Board of Directors has issued a 3.5% stock dividend to its owners now that its books had been closed for the 2011 fiscal year.
In a statement to owners, Xtend President Scott Collins wrote, “On behalf of the Xtend, Inc. Board of Directors it is my pleasure to pass along a 3.5% Stock Dividend to all fifty-nine (59) of our owners of record as of the September 30th, 2011 closing of our business year. Our financial audits have been completed, and this dividend is certainly an exclamation point on the biggest year ever for your CUSO! I hope that you will take a couple minutes to read the quarterly newsletter that accompanies your dividend check to find out how we are pushing hard for an even bigger 2012. You can rest assured that our commitment to help drive the success of all of our owners has never been stronger, and we will focus even more in the coming year on our fundamental principles – disruptive pricing, the highest quality service and the elimination of traditional marketplace barriers for credit unions of all sizes. Most of all, I would to thank each of you for your patronage and commitment to YOUR CUSO.”
This is the second straight year that the CUSO has issued a stock dividend.