First Business Financial Services, Inc. (the “Company”, the “Bank”, or “First Business Bank”) (Nasdaq: FBIZ) announced that its Board of Directors has declared a quarterly cash dividend on its common stock of $0.1975 per share, which equates to a dividend yield of 2.38% based on Thursday’s closing market price of $33.23 The quarterly dividend is the same as the quarterly dividend declared in April 2022 and, based on earnings per share for the second quarter of 2022, represents a dividend payout ratio of 15%.This regular cash dividend is payable on August 18, 2022 to shareholders of record at the close of business on August 8, 2022. The Board Directors also declared a dividend on the Company’s 7% Series A Preferred Shares of $17.50 per share, payable September 15, 2022 to shareholders of record as of August 31, 2022.
About First Business Bank
First Business Bank specializes in corporate banking services, including commercial banking and specialty finance, private banking and banking advisory services, and through its refined focus it offers expertise, accessibility and responsiveness. unmatched. Specialty finance solutions are provided by First Business Bank’s wholly owned subsidiary, First Business Specialty Finance, LLC. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc. (Nasdaq: FBIZ). For more information, visit firstbusiness.bank.
This press release includes “forward-looking” statements relating to First Business Financial Services, Inc. that can generally be identified as describing the company’s future plans, objectives or goals. These forward-looking statements are subject to risks and uncertainties that could cause actual results 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 additional information about factors that could affect the company’s future results, please see the company’s 2021 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission.