First Business Bank Declares Quarterly Cash Dividends

Rhea-AI Summary

First Business Financial Services, Inc. (Nasdaq: FBIZ) announced a quarterly cash dividend of $0.1975 per share, yielding 2.24% based on the last closing price of $35.29. This dividend matches the amount declared in July 2022 and represents a 16% payout ratio based on third quarter earnings. The dividend is payable on November 17, 2022 to shareholders of record by November 7, 2022. Additionally, a dividend of $17.50 per share on the Company’s 7% Series A Preferred Stock will be paid on December 15, 2022.

Positive

• Quarterly cash dividend of $0.1975 per share maintains previous dividend level.
• Dividend yield of 2.24% reflects strong shareholder returns.
• Payout ratio of 16% indicates a sustainable dividend policy.

Negative

• None.

MADISON, Wis.--(BUSINESS WIRE)-- First Business Financial Services, Inc. (the “Company”, the “Bank”, or “First Business Bank”) (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 2.24% based on Thursday’s market close price of $35.29. The quarterly dividend is the same as the quarterly dividend declared in July 2022, and based on third quarter 2022 earnings per share, represents a dividend payout ratio of 16%. This regular cash dividend is payable on November 17, 2022 to shareholders of record at the close of business on November 7, 2022. The board of directors also declared a dividend on the Company’s 7% Series A Preferred Stock of $17.50 per share, payable on December 15, 2022, to shareholders of record on November 30, 2022.

About First Business Bank

First Business Bank specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting Services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc. (Nasdaq: FBIZ). 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 2021 annual report on Form 10-K, quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221028005494/en/

Edward G. Sloane, Jr.

Chief Financial Officer

First Business Financial Services, Inc.

608-232-5970

esloane@firstbusiness.bank

Source: First Business Financial Services, Inc.

FAQ

What is the dividend amount declared by First Business Financial Services?

First Business Financial Services declared a quarterly cash dividend of $0.1975 per share.

What is the dividend yield for FBIZ based on the last closing price?

The dividend yield for FBIZ is 2.24% based on the last closing price of $35.29.

When is the dividend payable to FBIZ shareholders?

The dividend is payable on November 17, 2022, to shareholders of record by November 7, 2022.

What is the payout ratio for the declared dividend?

The dividend payout ratio is 16% based on third quarter 2022 earnings.

When will the dividend on the 7% Series A Preferred Stock be paid?

The dividend on the 7% Series A Preferred Stock will be paid on December 15, 2022.