Luxemburg Bancshares Inc., parent company of Bank of Luxemburg held its annual meeting on May 15 and announced a semi-annual dividend of $.63 per share, payable on June 15, to shareholders of record as of June 1. The current dividend is an increase of $0.03, compared to the June 2017 dividend of $0.60 per share paid on June 15, 2017.
The shareholders elected Lynie J. Vincent to the board of directors of Luxemburg Bancshares Inc. Vincent is the vice president and co-owner of N.E.W. Plastics Corp. of Luxemburg, WI. He is also a managing partner of Fulcrum Container in Twin Cities, Minnesota.
The shareholders re-elected Raymond J. Balza, David S. Rueckl, and Robert G. Van Drisse. Balza is the controller for America’s Logistics LLC in Green Bay. Rueckl is the owner and operator of Rueckl Oil, a Northeast Wisconsin fuel oil distributor. Van Drisse recently retired as the president and co-owner of Van Drisse Insurance Agency Inc., an independent insurance agency with offices in Green Bay and Luxemburg.
President Tim Treml noted, “Continued dividends are one example of the solid financial position of Luxemburg Bancshares Inc. and Bank of Luxemburg. The Company has a 35-year history of paying and increasing dividends on an annual basis. The Bank is expecting to maintain profitable operations through 2018 and beyond with substantial deposit and loan growth.”