First Business Announces an Increase in its Quarterly Dividend
January 27 2017 - 3:05PM
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 $0.13 per share
which is equivalent to a dividend yield of 2.13% based on
Thursday’s market close price of $24.36. The quarterly dividend at
this amount represents an 8.3% increase over the quarterly dividend
declared in October 2016. On an annualized basis, the 2017
dividend amount is $0.52 per share, or a payout ratio of 28% based
on fourth quarter 2016 earnings. This regular cash dividend is
payable on February 24, 2017 to shareholders of record at the close
of business on February 10, 2017.
Corey Chambas, President and Chief Executive Officer commented,
“We are pleased to announce an increase in our quarterly dividend
to $0.13 reflecting our commitment to increasing shareholder value.
We believe our earnings and capital position give us the ability to
increase dividends and provide a meaningful return to our
shareholders while carrying out 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 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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