First Business Declares Quarterly Cash Dividend

Rhea-AI Summary

First Business Financial Services, Inc. (FBIZ) has declared a quarterly cash dividend of $0.18 per share, yielding 2.52% based on the recent closing price of $28.59. This dividend matches the amount declared in July 2021 and corresponds to a 16.8% payout ratio based on third quarter earnings per share. The dividend is payable on November 18, 2021, to shareholders on record as of November 8, 2021.

Positive

• Quarterly cash dividend of $0.18 per share enhances shareholder income.
• Consistent dividend reflects company confidence with a 16.8% payout ratio.

Negative

• None.

MADISON, Wis.--(BUSINESS WIRE)-- 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 $0.18 per share which is equivalent to a dividend yield of 2.52% based on Thursday’s market close price of $28.59. The quarterly dividend is the same as the quarterly dividend declared in July 2021 and based on our third quarter 2021 earnings per share, represents a dividend payout ratio of 16.8%. This regular cash dividend is payable on November 18, 2021 to shareholders of record at the close of business on November 8, 2021.

About First Business Financial Services, Inc.

First Business Financial Services, Inc., (Nasdaq: FBIZ) is the parent company of First Business Bank. First Business Bank specializes in Business Banking, including Commercial Banking and Specialized Lending, Private Wealth, and Bank Consulting services, and through its refined focus, delivers unmatched expertise, accessibility, and responsiveness. Specialized Lending solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC. 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 2020 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/20211029005489/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?

FBIZ declared a quarterly cash dividend of $0.18 per share.

When is the dividend payable for FBIZ?

The dividend is payable on November 18, 2021.

What is the dividend yield for FBIZ based on recent market close?

The dividend yield is 2.52% based on a market close price of $28.59.

What is the dividend payout ratio for FBIZ?

The dividend payout ratio is 16.8% based on third quarter earnings per share.