Stock Yards Bancorp Increases Quarterly Cash Dividend to $0.28 Per Common Share

Rhea-AI Summary

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has announced an increase in its cash dividend to $0.28 per common share, payable on October 1, 2021, to stockholders of record as of September 20, 2021. This marks the 14th increase since 2012, with a cumulative increase of 110%. The decision follows the completed acquisition of Kentucky Bancshares and the announcement of the Commonwealth Bancshares acquisition, reflecting the company's strong performance and solid capital position.

Positive

• Increased cash dividend to $0.28 per share.
• 14th dividend increase since 2012, resulting in a cumulative increase of 110%.
• Demonstrates strong performance and solid capital position.
• Confident outlook due to upcoming growth opportunities.

Negative

• None.

LOUISVILLE, Ky., Aug. 18, 2021 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in the Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, announced that its Board of Directors increased its cash dividend to $0.28 per common share. The dividend will be paid on October 1, 2021, to stockholders of record as of September 20, 2021.

Commenting on the announcement, James A. (Ja) Hillebrand, Chairman and Chief Executive Officer, said, “On the heels of our completed Kentucky Bancshares acquisition and newly announced Commonwealth Bancshares acquisition, we are pleased to increase our cash dividend rate as part of our continued efforts to maximize returns for our shareholders. With this announcement, Stock Yards Bancorp has now raised its quarterly dividend rate a total of 14 times since 2012, resulting in a cumulative increase of 110% over that time. The increased dividend highlights our Company’s strong performance, our solid capital position and the attractive growth opportunities we see ahead.”

Louisville, Kentucky-based Stock Yards Bancorp, Inc. with $6.1 billion in assets, was incorporated in 1988 as a bank holding company. It is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The Company's common shares trade on the NASDAQ Global Select Market under the symbol SYBT. For more information about Stock Yards, visit the Company’s website.

Contact:	T. Clay Stinnett
	Executive Vice President, Treasurer
	and Chief Financial Officer
	(502) 625-0890

FAQ

What is the new dividend amount for SYBT?

The new dividend amount for Stock Yards Bancorp (SYBT) is $0.28 per common share.

When will the dividend for SYBT be paid?

The dividend will be paid on October 1, 2021.

Who is eligible for the SYBT dividend payment?

Stockholders of record as of September 20, 2021, are eligible for the dividend payment.

How many times has SYBT increased its dividend since 2012?

Stock Yards Bancorp has increased its dividend a total of 14 times since 2012.

What factors contribute to SYBT's dividend increase?

The dividend increase is attributed to the company's strong performance and solid capital position, alongside recent acquisitions.