First Business Bank Declares Quarterly Cash Dividend

Rhea-AI Summary

First Business Financial Services (FBIZ) announced a quarterly cash dividend of $0.1975 per share, reflecting a 2.30% dividend yield based on a market close price of $34.33. The dividend matches the amount declared in January 2022 and represents a payout ratio of 19.4% based on first-quarter earnings. This dividend is payable on May 19, 2022 to shareholders of record as of May 9, 2022. Additionally, an initial dividend on $12.5 million of Series A Preferred Stock was declared, payable on June 15, 2022.

Positive

• Quarterly cash dividend of $0.1975 per share provides ongoing income to shareholders.
• Dividend yield of 2.30% indicates strong shareholder returns.
• Low payout ratio of 19.4% reflects financial stability and room for future dividend increases.

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 2.30% based on Thursday’s market close price of $34.33. The quarterly dividend is the same as the quarterly dividend declared in January 2022, and based on first quarter 2022 earnings per share, represents a dividend payout ratio of 19.4%. This regular cash dividend is payable on May 19, 2022 to shareholders of record at the close of business on May 9, 2022. The Board of Directors also declared the initial dividend of the Company’s $12.5 million, 7% Series A Preferred Stock, payable June 15, 2022, to shareholders of record on June 1, 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/20220429005600/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 FBIZ in May 2022?

FBIZ declared a quarterly cash dividend of $0.1975 per share.

What is the dividend yield for First Business Financial Services?

The dividend yield is 2.30% based on a market close price of $34.33.

When is the dividend payable to shareholders?

The dividend is payable on May 19, 2022, to shareholders of record on May 9, 2022.

What is the payout ratio for FBIZ's dividend?

The payout ratio is 19.4% based on first-quarter earnings.

What is the initial dividend for the Series A Preferred Stock?

The initial dividend on the Series A Preferred Stock is for $12.5 million, payable on June 15, 2022.