Republic Bancorp, Inc. Increases its Common Stock Cash Dividends Paid for the 23rd Consecutive Year

Rhea-AI Summary

Republic Bancorp, Inc. (NASDAQ: RBCAA) announced an 8% increase in quarterly cash dividends, now set at $0.308 per Class A share and $0.28 per Class B share. Payment is scheduled for April 16, 2021, to shareholders of record by March 19, 2021. This marks the 23rd consecutive year of dividend increases, showcasing the company's strong earnings and capital position. The annualized dividend yield for Class A shares is 3.26%.

Positive

• 8% increase in quarterly dividends.
• 23rd consecutive year of increased dividends.
• Annualized yield of 3.26% for Class A shares.
• Strong earnings and capital position reported.

Negative

• None.

Republic Bancorp, Inc. (“Republic”) (NASDAQ: RBCAA), parent company of Republic Bank & Trust Company, today announced an 8% increase in the Company’s quarterly cash dividends. The quarterly cash dividend of $0.308 per share of Class A Common Stock and $0.28 per share on Class B Common Stock will be payable April 16, 2021 to shareholders of record as of March 19, 2021. The increased cash dividend results in an annualized dividend yield for the Class A Common stock of 3.26% based upon the stock’s closing price on January 26, 2021.

“We are excited that our continued strong earnings and capital position provide us the ability to increase our quarterly cash dividends paid for the 23^rd consecutive year. This past year has been a challenge to all of us in the financial industry, and we are proud to come through it with the confidence that we will continue to provide the solid dividend returns of a high-performing institution,” commented Steve Trager, Chairman and CEO for Republic.

Republic Bancorp, Inc. (the “Company”) is the parent company of Republic Bank & Trust Company (the “Bank”). The Bank currently has 42 full-service banking centers throughout five states: 28 banking centers in 8 Kentucky communities – Covington, Crestview Hills, Florence, Georgetown, Lexington, Louisville, Shelbyville, and Shepherdsville; three banking centers in southern Indiana – Floyds Knobs, Jeffersonville, and New Albany; seven banking centers in six Florida communities (Tampa MSA) – Largo, New Port Richey, St. Petersburg, Seminole, Tampa, and Temple Terrace; two banking centers in two Tennessee communities (Nashville MSA) – Cool Springs and Green Hills; and two banking centers in two Ohio communities (Cincinnati MSA) – Norwood and West Chester. The Bank offers internet banking at www.republicbank.com. The Bank also offers separately branded, nation-wide digital banking at www.mymemorybank.com. The Company has $6.2 billion in assets and is headquartered in Louisville, Kentucky. The Company’s Class A Common Stock is listed under the symbol “RBCAA” on the NASDAQ Global Select Market.

Republic Bank. It’s just easier here. ^®

View source version on businesswire.com: https://www.businesswire.com/news/home/20210127005561/en/

FAQ

What is the new dividend amount for RBCAA?

The new dividend amount is $0.308 per share for Class A and $0.28 per share for Class B.

When will the dividend for RBCAA be paid?

The dividend will be paid on April 16, 2021.

What is the annualized yield for Class A shares of RBCAA?

The annualized yield for Class A shares is 3.26%.

How long has Republic Bancorp been increasing its dividends?

Republic Bancorp has increased its dividends for 23 consecutive years.