Stock Yards Bancorp Increases Quarterly Cash Dividend to $0.29 Per Common Share

Rhea-AI Summary

Stock Yards Bancorp, Inc. (NASDAQ: SYBT) has announced an increase in its cash dividend to $0.29 per common share, payable on October 3, 2022, to shareholders on record as of September 19, 2022. This marks the 15th increase in quarterly dividends since 2012, leading to a cumulative increase of 118%. CEO James A. Hillebrand emphasized the firm's strong earnings and capital position as driving factors behind this decision, reflecting confidence in the company's performance and growth opportunities.

Positive

• Increased cash dividend to $0.29 per share, enhancing shareholder returns.
• Total of 15 dividend increases since 2012, indicating strong financial performance.
• Cumulative dividend increase of 118% over the past decade shows company stability.

Negative

• None.

LOUISVILLE, Ky., Aug. 17, 2022 (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 $0.29 per common share. The dividend will be paid on October 3, 2022, to stockholders of record as of September 19, 2022.

Commenting on the announcement, James A. (Ja) Hillebrand, Chairman and Chief Executive Officer, said, “With the strength of our earnings and solid capital position, we are pleased to increase our cash dividend rate as part of our continued efforts to provide returns to our loyal shareholders. With this announcement, Stock Yards Bancorp has now raised its quarterly dividend rate a total of 15 times since 2012, resulting in a cumulative increase of 118% over that time. The increased dividend highlights our Company’s stellar performance throughout the past year and the attractive growth opportunities we see ahead.”

Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $7.58 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 Stock Market under the symbol “SYBT.” For more information about Stock Yards Bancorp, visit the Company’s website at www.syb.com.

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

FAQ

What is the new dividend amount for Stock Yards Bancorp (SYBT)?

The new dividend amount for Stock Yards Bancorp is $0.29 per common share.

When will the dividend be paid for SYBT shareholders?

The dividend will be paid on October 3, 2022.

What is the record date for the dividend payment of SYBT?

The record date for the dividend payment is September 19, 2022.

How many times has SYBT increased its dividend since 2012?

Stock Yards Bancorp has increased its dividend a total of 15 times since 2012.

What percentage increase does the new dividend represent since 2012?

The new dividend represents a cumulative increase of 118% since 2012.