The board of directors of LSB Corp., parent company of North Andover-based River Bank, has approved the adoption of a dividend reinvestment and stock purchase plan.

The plan will be administered through its stock transfer agent, Computershare Trust Co. The company said it anticipates that a mailing will be sent to shareholders communicating the details of the dividend reinvestment and stock purchase plan this month.

The plan will also allow for a shareholder to make additional, optional stock purchases of company common stock with a minimum purchase amount of $25 up to a maximum limit of $10,000 per month. 

The specific terms and conditions, including applicable fees associated with the plan, will be provided with the mailing.

A dividend reinvestment and stock purchase plan is an investment option offered directly to existing shareholders from the issuing company, in this instance, LSB Corp. At the shareholder’s option, dividends are not paid directly in cash, but instead are directly reinvested in company common stock.