First Midwest Bancorp, Inc. Declares Quarterly Dividends
23 February 2021 - 12:00AM
First Midwest Bancorp, Inc. (the “Company” or “First Midwest”)
today announced that its Board of Directors declared a quarterly
cash dividend of $0.14 per share on the Company’s common
stock. This quarterly cash dividend will be payable on
April 13, 2021 to common stockholders of record on
March 26, 2021 and will represent the 153rd consecutive cash
dividend paid by First Midwest since its inception in 1983.
In addition, the Board of Directors declared a
quarterly cash dividend of $17.50 per share (equivalent to
$0.4375 per depositary share or 1/40th interest per share) on
the Company’s 7.0% Fixed Rate Non-Cumulative Perpetual Preferred
Stock, Series A (NASDAQ: FMBIP) and Series C
(NASDAQ: FMBIO). The dividends are payable on May 20,
2021 to stockholders of record as of the close of business on
May 5, 2021.
The Company also announced today that it will
resume purchases under its existing stock repurchase program, which
was approved by the Board of Directors in February 2020 and which
authorizes the repurchase of up to $200 million of the
Company’s common stock. The resumption of the stock repurchase
program allows the Company to continue to deliver on its commitment
to create long-term shareholder value while remaining focused on
helping its clients achieve financial success.
About First Midwest
First Midwest (NASDAQ: FMBI) is a
relationship-focused financial institution and one of the largest
independent publicly traded bank holding companies based on assets
headquartered in Chicago and the Midwest, with approximately
$21 billion of assets and an additional $14 billion of
assets under management. First Midwest Bank and the Company’s other
affiliates provide a full range of commercial, treasury management,
equipment leasing, consumer, wealth management, trust and private
banking products and services. First Midwest operates branches and
other locations throughout metropolitan Chicago, southeast
Wisconsin, northwest Indiana, eastern Iowa and other markets in the
Midwest. Visit First Midwest at www.firstmidwest.com.
Investors:Patrick S. BarrettEVP, Chief Financial
Officer708.831.7231pat.barrett@firstmidwest.com |
Media:Maurissa KanterSVP, Director of Corporate
Communications708.831.7345maurissa.kanter@firstmidwest.com |
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