First Business Declares Quarterly Cash Dividend
26 October 2019 - 7:05AM
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 $0.15 per share
which is equivalent to a dividend yield of 2.39% based on
Thursday’s market close price of $25.08. The quarterly dividend is
the same as the quarterly dividend declared in July 2019, and,
based on our third quarter 2019 earnings per share, represents a
dividend payout ratio of 25.4%. This regular cash dividend is
payable on November 14, 2019 to shareholders of record at the close
of business on November 4, 2019.
Corey Chambas, President and Chief Executive Officer, stated,
“Third quarter results were highlighted by strong deposit growth,
improved asset quality and positive operating leverage. The payment
of regular cash dividends remains a priority for First Business as
we maintain our commitment to provide a consistent return to our
shareholders while retaining sufficient capital to meet the needs
of our 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 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/20191025005458/en/
Edward G. Sloane, Jr. Chief Financial Officer First Business
Financial Services, Inc. 608-232-5970 esloane@firstbusiness.com
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