First Business Bank Declares Quarterly Cash Dividends

Rhea-AI Summary

First Business Financial Services, Inc. (FBIZ) has declared a quarterly cash dividend of $0.1975 per share, providing a dividend yield of 2.38% based on the closing price of $33.23. This dividend matches the amount declared in April 2022 and corresponds to a 15% dividend payout ratio based on second quarter earnings. The payment date for this dividend is set for August 18, 2022, with a record date of August 8, 2022. Additionally, a dividend of $17.50 per share will be paid on the Company’s 7% Series A Preferred Stock on September 15, 2022.

Positive

• Quarterly cash dividend of $0.1975 per share declared.
• Dividend yield of 2.38% based on market close price.
• Dividend payout ratio of 15% based on Q2 earnings.

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 2.38% based on Thursday’s market close price of $33.23. The quarterly dividend is the same as the quarterly dividend declared in April 2022, and based on second quarter 2022 earnings per share, represents a dividend payout ratio of 15%. This regular cash dividend is payable on August 18, 2022 to shareholders of record at the close of business on August 8, 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 September 15, 2022, to shareholders of record on August 31, 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/20220729005398/en/

Edward G. Sloane, Jr.

Chief Financial Officer

First Business Financial Services, Inc.

608-232-5970

esloane@firstbusiness.bank

Source: First Business Bank

FAQ

What is the dividend amount declared by FBIZ for Q2 2022?

The dividend declared by FBIZ for Q2 2022 is $0.1975 per share.

When is the dividend payment date for FBIZ's common stock?

The dividend payment date for FBIZ's common stock is August 18, 2022.

What is the dividend yield based on FBIZ's current stock price?

The dividend yield based on FBIZ's current stock price of $33.23 is 2.38%.

What is the record date for FBIZ's dividend payment?

The record date for FBIZ's dividend payment is August 8, 2022.

What is the dividend declared on FBIZ's Series A Preferred Stock?

The dividend declared on FBIZ's 7% Series A Preferred Stock is $17.50 per share.