Wintrust Financial Corporation Announces Cash Dividends

Rhea-AI Summary

Wintrust Financial Corporation (Nasdaq: WTFC) announced a quarterly cash dividend of $0.28 per share, payable on November 27, 2020, to shareholders of record by November 12, 2020. Additionally, dividends on Series D and Series E preferred stock will be distributed on January 15, 2021, to those on record by January 1, 2021. Wintrust has over $43 billion in assets and operates 15 community bank subsidiaries in the Chicago and southern Wisconsin areas, focusing on service-based banking.

Positive

• Quarterly cash dividend of $0.28 per share signifies company confidence and commitment to shareholders.
• Regular dividend payments on preferred stock indicate ongoing return on investment for preferred shareholders.

Negative

• None.

ROSEMONT, Ill., Oct. 29, 2020 (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 $0.28 per share of outstanding common stock. The dividend is payable on November 27, 2020 to shareholders of record as of November 12, 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 January 15, 2021 to shareholders of record as of January 1, 2021.

About Wintrust

Wintrust is a financial holding company with assets of over $43 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.

FAQ

What is the dividend amount announced by Wintrust Financial Corporation?

Wintrust Financial Corporation announced a quarterly cash dividend of $0.28 per share.

When will the dividend be paid to WTFC shareholders?

The dividend will be payable on November 27, 2020, to shareholders of record as of November 12, 2020.

Are there any dividends for preferred stockholders of WTFC?

Yes, dividends for Series D and Series E preferred stock will be paid on January 15, 2021, to shareholders of record as of January 1, 2021.

How does the dividend announcement impact WTFC investors?

The dividend announcement reflects Wintrust's commitment to returning value to its shareholders, providing ongoing income opportunities.