Wintrust Financial Corporation Announces Cash Dividends, Increasing Quarterly Common Stock Dividend Rate by 9.7%

Rhea-AI Summary

Wintrust Financial Corporation (Nasdaq: WTFC) announced a quarterly cash dividend of $0.34 per share, representing a 9.7% increase from the $0.31 dividend paid in 2021. The dividend will be payable on February 24, 2022 to shareholders of record as of February 10, 2022. Additionally, dividends for the Company's preferred stock are scheduled for April 15, 2022. Wintrust, with assets exceeding $50 billion, provides community banking and various financial services across over 170 locations in Illinois and Wisconsin.

Positive

• Quarterly cash dividend increased by 9.7% to $0.34 per share.
• Strong asset base exceeding $50 billion.
• Confident dividend payments for both common and preferred stocks.

Negative

• None.

ROSEMONT, Ill., Jan. 27, 2022 (GLOBE NEWSWIRE) -- Wintrust Financial Corporation (“Wintrust” or the “Company”) (Nasdaq: WTFC) today announced that the Company’s Board of Directors approved a quarterly cash dividend of $0.34 per share of outstanding common stock. The dividend is payable on February 24, 2022 to shareholders of record as of February 10, 2022. This represents an increase of approximately 9.7% from the $0.31 quarterly cash dividend paid in each of the quarters of 2021.

Additionally, the Company’s Board of Directors approved quarterly cash dividends on outstanding shares of the Company’s 6.50% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D and of the Company’s 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E. Each dividend is payable on April 15, 2022 to shareholders of record as of April 1, 2022.

About Wintrust

Wintrust is a financial holding company with assets of over $50 billion whose common stock is traded on the NASDAQ Global Select Market. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries, with over 170 banking locations located in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units including business units which provide commercial and life insurance premium financing in the United States, a premium finance company operating in Canada, a company providing short-term accounts receivable financing and value-added out-sourced administrative services to the temporary staffing services industry, a business unit engaging primarily in the origination and purchase of residential mortgages for sale into the secondary market throughout the United States, and companies providing wealth management services and qualified intermediary services for tax-deferred exchanges.

Forward-Looking Information

This press release contains forward-looking statements within the meaning of the federal securities laws. Investors are cautioned that such statements are predictions and actual events or results may differ materially. Wintrust's expected financial results or other plans are subject to a number of risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" and the forward-looking statement disclosure contained in Wintrust's most recent Annual Report on Form 10-K and in any of the Company’s subsequent SEC filings. Forward-looking statements speak only as of the date made and Wintrust undertakes no duty to update the information.

FOR MORE INFORMATION CONTACT:
Edward J. Wehmer, Founder & Chief Executive Officer
David A. Dykstra, Vice Chairman & Chief Operating Officer
(847) 939-9000
Website address: www.wintrust.com

FAQ

What is the dividend amount for WTFC announced in January 2022?

The dividend amount for Wintrust Financial Corporation (WTFC) is $0.34 per share.

When will the WTFC dividend be paid?

The WTFC dividend will be paid on February 24, 2022.

What was the previous dividend amount for WTFC before the increase?

The previous dividend amount for WTFC was $0.31 per share.

When is the record date for the WTFC dividend?

The record date for the WTFC dividend is February 10, 2022.

Are there any dividends for preferred stocks of WTFC?

Yes, dividends for WTFC's preferred stocks are payable on April 15, 2022.