Republic Bancorp, Inc. Increases Its Common Stock Cash Dividends Paid for the 24th Consecutive Year

Rhea-AI Summary

Republic Bancorp, Inc. (NASDAQ: RBCAA) has announced an 11% increase in its quarterly cash dividend. Shareholders will receive $0.341 per share on Class A Common Stock and $0.31 on Class B Common Stock, payable on April 15, 2022. The annualized dividend yield for Class A shares is now 2.73%, based on the January 25, 2022 closing price. This marks the 24th consecutive annual increase in dividends, reflecting the company's strong performance in earnings, capital, and credit quality.

Positive

• 11% increase in quarterly cash dividend.
• Class A shares offer an annualized yield of 2.73%.
• 24th consecutive annual dividend increase.
• Strong earnings and solid capital reported.

Negative

• None.

LOUISVILLE, Ky.--(BUSINESS WIRE)-- Republic Bancorp, Inc. (“Republic”) (NASDAQ: RBCAA), parent company of Republic Bank & Trust Company, today announced an 11% increase in the Company’s quarterly cash dividends. The quarterly cash dividend of $0.341 per share of Class A Common Stock and $0.31 per share on Class B Common Stock will be payable April 15, 2022 to shareholders of record as of March 18, 2022. The increased cash dividend results in an annualized dividend yield for the Class A Common stock of 2.73% based upon the stock’s closing price on January 25, 2022.

“We are pleased to reward our valued shareholders with this 24^th consecutive annual increase to our quarterly cash dividends paid. Our Company just completed another successful year with higher earnings, solid capital, and industry-strong credit quality metrics within our Core Banking segment. We are proud that our continued success allows us to further increase the cash return to our valued shareholders, once again,” commented Steve Trager, Chair of 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: twenty-eight banking centers in eight 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 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/20220126005581/en/

Steve Trager

Chair of Republic Bancorp, Inc.

502-584-3600

Source: Republic Bancorp, Inc.

FAQ

What is the new dividend amount for RBCAA?

The new dividend amount is $0.341 per share for Class A Common Stock and $0.31 for Class B Common Stock.

When is the dividend payment date for RBCAA?

The dividend payment date is April 15, 2022.

What is the annualized dividend yield for RBCAA's Class A common stock?

The annualized dividend yield for Class A common stock is 2.73%.

How many consecutive annual dividend increases has RBCAA achieved?

RBCAA has achieved 24 consecutive annual dividend increases.