Xtend Returns First Stock Dividend

Xtend, Inc., a Grand Rapids, Michigan-based multi-owned cooperative CUSO, recently declared its first-ever stock dividend return to owners.  The CUSO, which completed its 2010 fiscal year on September 30th, released its final audited financials to stockholders on December 7th along with the dividend of 3%.

In his notifications to owners, Xtend President Scott Collins wrote: “On behalf of the Board of Directors it is my pleasure to pass along a 3% Stock Dividend to all fifty-two of our owners as of September 30th.  2010 was a year of firsts and this is a BIG moment for our CUSO! What started as a vision and twelve organizations throwing $5000 into a hat to create something new for our industry has developed into a trusted partner for more than 120 of your peers.  I encourage each of you to plug us into your business plan in some way during the coming year to help you serve your members.  Although those of you who take advantage of our aggressive pricing on services receive a return on your investment with every invoice, our first ownership dividend certainly puts a final exclamation point on the year.  Thank you for your patronage and commitment to YOUR CUSO.”

Collins credited steady utilization of the CUSO’s expense reduction offerings (bookkeeping, compliance monitoring, mortgage servicing) and increased demand for its revenue generation products (call center, marketing campaign execution, electronic communication) for this “breakout” year.