Financial Institutions, Inc. Announces Quarterly Cash Dividend

Rhea-AI Summary

Financial Institutions, Inc. (NASDAQ:FISI) announced a quarterly cash dividend of $0.27 per common share, along with $0.75 on its Series A preferred stock and $2.12 on Series B-1 preferred stock. All dividends are payable on October 4, 2021, to shareholders of record by September 17, 2021. The Company operates through subsidiaries providing various financial services, including banking, insurance, and investment management, employing around 600 individuals across New York State.

Positive

• Quarterly cash dividend of $0.27 per common share indicates strong financial health.
• Dividends on Series A and Series B-1 preferred stocks reflect confidence in sustaining returns for preferred shareholders.

Negative

• None.

WARSAW, N.Y., Aug. 24, 2021 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ:FISI) (the “Company”), parent company of Five Star Bank, SDN Insurance Agency, LLC (“SDN”), Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP Capital”), announced today that its Board of Directors has approved a quarterly cash dividend of $0.27 per outstanding common share. The Company also announced dividends of $0.75 per share on its Series A 3% preferred stock and $2.12 per share on its Series B-1 8.48% preferred stock. All dividends are payable October 4, 2021, to shareholders of record on September 17, 2021.

About Financial Institutions, Inc.
Financial Institutions, Inc. provides diversified financial services through its subsidiaries Five Star Bank, SDN, Courier Capital and HNP Capital. Five Star Bank provides a wide range of consumer and commercial banking and lending services to individuals, municipalities and businesses through a network of more than 45 offices throughout Western and Central New York State. SDN provides a broad range of insurance services to personal and business clients. Courier Capital and HNP Capital provide customized investment management, investment consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. Financial Institutions, Inc. and its subsidiaries employ approximately 600 individuals. The Company’s stock is listed on the Nasdaq Global Select Market under the symbol FISI. Additional information is available at www.fiiwarsaw.com.

For additional information contact:

Shelly J. Doran
(585) 627-1362
sjdoran@five-starbank.com

FAQ

What is the dividend amount for FISI?

Financial Institutions, Inc. (FISI) will pay a quarterly cash dividend of $0.27 per common share.

When is the FISI dividend payable?

The dividends for FISI are payable on October 4, 2021.

What are the payment dates for preferred stock dividends of FISI?

The Series A preferred stock will pay $0.75, and Series B-1 will pay $2.12, both payable on October 4, 2021.

Who qualifies for the FISI dividend?

Shareholders of record as of September 17, 2021, will qualify for the FISI dividend.

How does FISI perform in providing returns to shareholders?

FISI's recent announcement of dividend payments suggests a commitment to providing returns to its shareholders.