First Business Increases Quarterly Cash Dividend 10%
24 Januar 2020 - 10:05PM
Business Wire
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 $0.165 per share
which is equivalent to a dividend yield of 2.63% based on
Thursday’s market close price of $25.02. The quarterly dividend
represents a 10% increase over the quarterly dividend declared in
October 2019, and, based on our fourth quarter 2019 earnings per
share, a dividend payout ratio of 24.6%. This regular cash dividend
is payable on February 13, 2020 to shareholders of record at the
close of business on February 3, 2020.
First Business President and Chief Executive Officer, Corey
Chambas said, “Our 2019 record earnings growth is a testament to
building our client relationships and a focus on achieving the
company’s long-term strategic plan. Today’s dividend increase
reflects our confidence in the plan and continued focus on driving
shareholder value. This dividend increase represents our eighth
consecutive dividend increase.”
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 2018 annual report on Form
10-K, quarterly reports on Form 10-Q and other filings with the
Securities and Exchange Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20200124005351/en/
Edward G. Sloane, Jr. Chief Financial Officer First Business
Financial Services, Inc. 608-232-5970 esloane@firstbusiness.com
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