Wintrust Financial Corporation Announces Cash Dividends, Increasing Quarterly Common Stock Dividend Rate by 10.7%

Rhea-AI Summary

Wintrust Financial Corporation (Nasdaq: WTFC) announced a quarterly cash dividend of $0.31 per share, payable on February 25, 2021, to shareholders of record by February 11, 2021. This marks a notable increase of approximately 10.7% from the $0.28 dividend in 2020. Additionally, dividends on the Company’s preferred stock classes, Series D and E, are set for April 15, 2021, for shareholders of record by April 1, 2021.

Wintrust, with assets exceeding $45 billion, is focused on community banking and offers a range of financial services.

Positive

• Quarterly cash dividend increased by approximately 10.7% from $0.28 to $0.31.
• Dividend payment reflects strong financial performance and confidence in future profitability.

Negative

• None.

ROSEMONT, Ill., Jan. 28, 2021 (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 $0.31 per share of outstanding common stock. The dividend is payable on February 25, 2021 to shareholders of record as of February 11, 2021. This represents an increase of approximately 10.7% from the $0.28 quarterly cash dividend paid in each of the quarters of 2020.

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, 2021 to shareholders of record as of April 1, 2021.

About Wintrust

Wintrust is a financial holding company with assets of over $45 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 180 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 announced by Wintrust Financial Corporation?

Wintrust Financial Corporation announced a quarterly cash dividend of $0.31 per share.

When is the dividend payable to shareholders of Wintrust Financial Corporation?

The dividend is payable on February 25, 2021.

When is the record date for the Wintrust dividend?

The record date for the dividend is February 11, 2021.

What is the increase percentage of the Wintrust dividend compared to last year?

The dividend increased by approximately 10.7% from $0.28 to $0.31.

What are the upcoming dates for preferred stock dividends at Wintrust?

Dividends on preferred stock Series D and E are payable on April 15, 2021, with a record date of April 1, 2021.