First Business Announces 10% Increase in Quarterly Cash Dividend
28 Januar 2022 - 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 $0.1975 per share
which is equivalent to a dividend yield of 2.57% based on
Thursday’s market close price of $30.71. The quarterly dividend
represents a 10% increase over the quarterly dividend declared in
October 2021, and based on fourth quarter 2021 earnings per share,
a dividend payout ratio of 17.0%. This regular cash dividend is
payable on February 17, 2022 to shareholders of record at the close
of business on February 7, 2022.
“First Business’ growth in revenue and earnings in 2021, and our
expectations for 2022 and beyond, readily support the Company’s
10th consecutive annual increase in the dividend,” President and
Chief Executive Officer, Corey Chambas said. “Even after investing
in the business, including our high-growth specialized lending
offerings, we remain focused on our continuing commitment to drive
shareholder value by providing a meaningful return to shareholders
through quarterly cash dividends.”
About First Business Financial Services, Inc.
First Business Financial Services, Inc., (Nasdaq: FBIZ) is the
parent company of First Business Bank. First Business Bank
specializes in Business Banking, including Commercial Banking and
Specialized Lending, Private Wealth, and Bank Consulting services,
and through its refined focus, delivers unmatched expertise,
accessibility, and responsiveness. Specialized Lending solutions
are delivered through First Business Bank’s wholly owned subsidiary
First Business Specialty Finance, LLC. For additional information,
visit firstbusiness.bank.
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 2020 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/20220128005460/en/
Edward G. Sloane, Jr. Chief Financial Officer First Business
Financial Services, Inc. 608-232-5970
esloane@firstbusiness.bank
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