First Business Announces Quarterly Dividend
02 May 2016 - 11:23PM
On April 29, 2016, the Board of Directors of First Business
Financial Services, Inc. (the “Company” or “First Business”)
(NASDAQ:FBIZ) declared a regular quarterly cash dividend on its
common stock of $0.12 per share, which is equivalent to a dividend
yield of 1.90% based on Friday’s market close price of
$25.31. The quarterly dividend at this amount is the same as
the quarterly dividend declared in January 2016. On an
annualized basis, the 2016 dividend amount is $0.48 per share, or a
payout ratio of 23% based on first quarter 2016 earnings. This
regular cash dividend is payable on May 27, 2016 to shareholders of
record at the close of business on May 13, 2016.
Corey Chambas, President and Chief Executive Officer commented,
“Payment of a regular cash dividend supports our corporate
initiative to generate a strong return for our shareholders while
maintaining sufficient capital to meet strategic growth
objectives. We are pleased with the recently announced record
first quarter earnings which builds on the success of the Alterra
Bank acquisition and continued execution of our strategic
plan.”
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 2015 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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