Wintrust Financial Corporation Announces Cash Dividends, Increasing Quarterly Common Stock Dividend Rate By 17.6%

Rhea-AI Summary

Wintrust Financial Corporation (NASDAQ: WTFC) announced a quarterly cash dividend of $0.40 per share, marking a 17.6% increase from 2022's $0.34. The dividend is payable on February 23, 2023, to shareholders of record by February 9, 2023. Additionally, dividends on the 6.50% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, and 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, are set for April 15, 2023, with record date April 1, 2023. Wintrust operates approximately $53 billion in assets across 15 community bank subsidiaries.

Positive

• Quarterly cash dividend increased to $0.40 per share, enhancing shareholder income.
• Demonstrates company confidence and financial stability.

Negative

• None.

ROSEMONT, Ill., Jan. 26, 2023 (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 $0.40 per share of outstanding common stock. The dividend is payable on February 23, 2023 to shareholders of record as of February 9, 2023. This represents an increase of approximately 17.6% from the $0.34 quarterly cash dividend paid in each of the quarters of 2022.

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, 2023 to shareholders of record as of April 1, 2023.

About Wintrust

Wintrust is a financial holding company with assets of approximately $53 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 declared by Wintrust Financial Corporation for February 2023?

Wintrust Financial Corporation declared a dividend of $0.40 per share for February 2023.

When will Wintrust Financial's dividend be paid?

The dividend will be paid on February 23, 2023.

What was the percentage increase in Wintrust's dividend from 2022 to 2023?

The dividend increased by approximately 17.6% from $0.34 in 2022.

When is the record date for the dividend payment by Wintrust Financial Corporation?

The record date is February 9, 2023.

What other dividends were approved by Wintrust's Board of Directors?

Dividends on the 6.50% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D, and 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, were also approved.