First Business Bank Declares Quarterly Cash Dividends

Rhea-AI Summary

First Business Financial Services, Inc. (Nasdaq: FBIZ) has declared a quarterly cash dividend on its common stock of $0.2275 per share, representing a dividend yield of 3.07%. The dividend payout ratio is 19% based on third quarter 2023 earnings per share. The company will also pay a dividend of $17.50 per share on its 7% Series A Preferred Stock.

MADISON, Wis.--(BUSINESS WIRE)-- First Business Financial Services, Inc. (the “Company” or “First Business Bank”) (Nasdaq: FBIZ) announced its Board of Directors has declared a quarterly cash dividend on its common stock of $0.2275 per share which is equivalent to a dividend yield of 3.07% based on Friday's market close price of $29.60. The quarterly dividend is the same as the quarterly dividend declared in July 2023, and based on third quarter 2023 earnings per share, represents a dividend payout ratio of 19%. This regular cash dividend is payable on November 16 2023, to shareholders of record at the close of business on November 6, 2023. The board of directors also declared a dividend on the Company’s 7% Series A Preferred Stock of $17.50 per share, payable on December 15, 2023, to shareholders of record on November 30, 2023.

About First Business Bank

First Business Bank^® specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through 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 additional information, visit firstbusiness.bank.

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 2022 annual report on Form 10-K, quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231027859995/en/

Brian D. Spielmann

Chief Financial Officer

First Business Financial Services, Inc.

608-232-5970

bspielmann@firstbusiness.bank

Source: First Business Financial Services, Inc.

FAQ

What is the ticker symbol for First Business Financial Services, Inc.?

The ticker symbol for First Business Financial Services, Inc. is FBIZ.

What is the dividend amount per share for the common stock?

The dividend amount per share for the common stock is $0.2275.

What is the dividend yield for the common stock?

The dividend yield for the common stock is 3.07%.

What is the dividend payout ratio based on third quarter 2023 earnings per share?

The dividend payout ratio based on third quarter 2023 earnings per share is 19%.

When will the regular cash dividend be payable?

The regular cash dividend will be payable on November 16, 2023.

When is the record date for the regular cash dividend?

The record date for the regular cash dividend is November 6, 2023.

What is the dividend amount per share for the 7% Series A Preferred Stock?

The dividend amount per share for the 7% Series A Preferred Stock is $17.50.

When will the dividend on the 7% Series A Preferred Stock be payable?

The dividend on the 7% Series A Preferred Stock will be payable on December 15, 2023.

When is the record date for the dividend on the 7% Series A Preferred Stock?

The record date for the dividend on the 7% Series A Preferred Stock is November 30, 2023.