MADISON, Wis.--(BUSINESS WIRE)--First Business Financial Services, Inc. (“First Business”) (Nasdaq: FBIZ) announced its board of directors has declared a quarterly cash dividend on its common stock of $0.165 per share which is equivalent to a dividend yield of 4.43% based on Thursday’s market close price of $14.90. The quarterly dividend is the same as the quarterly dividend declared in January 2020, and, based on our first quarter 2020 earnings per share, represents a dividend payout ratio of 43.4%. This regular cash dividend is payable on May 14, 2020 to shareholders of record at the close of business on May 4, 2020.
“We are pleased that our ongoing financial strength has positioned us to meet growth objectives and allowed us to once again declare a cash dividend that will provide shareholders with a competitive dividend yield” noted Corey Chambas, President and Chief Executive Officer of First Business.
About First Business Financial Services, Inc.
First Business Financial Services is a Wisconsin-based bank holding company, focused on the unique needs of businesses, business executives and high net worth individuals. First Business offers commercial banking, specialty finance and private wealth management solutions, and because of its niche focus, is able to provide its clients with unmatched expertise, accessibility and responsiveness. For additional information, visit www.firstbusiness.com or call 608-238-8008.
This press release includes “forward-looking” statements related to First Business Financial Services, Inc. that can generally be identified as describing the Company’s future plans, objectives or goals. Such forward-looking statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those currently anticipated. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For further information about the factors that could affect the Company’s future results, please see the Company’s 2019 annual report on Form 10-K, quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission.