First Business Announces Quarterly Dividend of $0.13
27 April 2017 - 10:29PM
First Business Financial Services, Inc. (“First Business”)
(NASDAQ:FBIZ) announced its board of directors has declared a
quarterly cash dividend on its common stock of $0.13 per share
which is equivalent to a dividend yield of 1.85% based on
Wednesday’s market close price of $28.16. The quarterly dividend is
the same as the quarterly dividend declared in January 2017.
On an annualized basis, the 2017 dividend amount is $0.52 per
share, or a payout ratio of 33% based on first quarter 2017
earnings. This regular cash dividend is payable on May 25, 2017 to
shareholders of record at the close of business on May 11, 2017.
Corey Chambas, President and Chief Executive Officer commented,
“Payment of a regular cash dividend supports our long-term
corporate objectives of generating shareholder value while
maintaining sufficient capital to meet the needs of our clients and
to drive future strategic growth initiatives.”
About First Business Financial Services,
Inc.First Business Financial Services is a Wisconsin-based
bank holding company, focused on the unique needs of businesses,
business executives and high net worth individuals. First Business
offers commercial banking, specialty finance and private wealth
management solutions, and because of its niche focus, is able to
provide its clients with unmatched expertise, accessibility and
responsiveness. For additional information, visit
www.firstbusiness.com or call 608-238-8008.
This press release includes “forward-looking” statements related
to First Business Financial Services, Inc. that can generally be
identified as describing the Company’s future plans, objectives or
goals. Such forward-looking statements are subject to risks and
uncertainties that could cause actual results or outcomes to differ
materially from those currently anticipated. These forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. For further
information about the factors that could affect the Company’s
future results, please see the Company’s 2016 annual report on Form
10-K, quarterly reports on Form 10-Q and other filings with the
Securities and Exchange Commission.
Contact:
Edward G. Sloane, Jr.
Chief Financial Officer
First Business Financial Services, Inc.
608-232-5970
esloane@firstbusiness.com
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