Company news

NEW BUSINESS MoneyGram International Inc., Minneapolis, and Citi have reached an agreement to expand MoneyGram's money transfer services to all Citi locations in Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. The company also said it has added Paris-based SRD MP and its partner Bimedia, a provider for tobacco and news retailers throughout France, to its money transfer services roster. SRD MP, which has signed a five-year contract, will serve as a super-agent and will sign additional retail agents across the country.

U.S. Bancorp, Minneapolis, and the Kroger Co., Cincinnati, announced a strategic alliance that will give Kroger customers a suite of payment products. As part of the alliance, U.S. Bank has purchased Kroger's credit card portfolio from RBS Citizens and plans to offer additional financial services for Kroger customers.

DEBT AND EQUITIES Valspar Corp., Minneapolis, declared a quarterly dividend of 16 cents per share, payable July 15 to all common stockholders of record July 1.

Target Corp., Minneapolis, declared a quarterly dividend of 25 cents per common share, an increase from 17 cents per common share, payable Sept. 10 to shareholders of record Aug. 20.

FSI International Inc., Chaska, said its underwritten public offering of 5.4 million common shares was priced at $3.05 per share. In addition, the underwriters have been granted an option to purchase up to an additional 810,000 shares to cover overallotments. The company intends to use the net proceeds from this offering for general corporate and working capital purposes. The transaction is expected to close on or about June 14, subject to customary closing conditions. Craig-Hallum Capital Group is the sole book-running manager for the offering and Dougherty & Co. is comanager.

PERSONNEL AGA Medical Inc., Plymouth, recently named two directors to its board: Daniel Pelak and Darrell Tamosuinas will serve for terms ending at the 2013 annual meeting and until their successors are elected.