Financial Institutions, Inc. Announces Quarterly Cash Dividend

Rhea-AI Summary

Financial Institutions, parent company of Five Star Bank and Courier Capital, announced a quarterly cash dividend of $0.30 per common share. Additionally, dividends of $0.75 per share on Series A 3% preferred stock and $2.12 per share on Series B-1 8.48% preferred stock were declared. All dividends are payable on July 2, 2024, to shareholders of record as of June 14, 2024.

Positive

• Quarterly cash dividend of $0.30 per common share announced.
• Dividends of $0.75 per share on Series A 3% preferred stock.
• Dividends of $2.12 per share on Series B-1 8.48% preferred stock.
• Dividend payments scheduled for July 2, 2024.
• Strong dividend returns on preferred stocks, particularly the 8.48% Series B-1.

Negative

• No information on financial performance or future earnings provided.
• Potential for future cash flow issues if high dividends are maintained without corresponding earnings.

WARSAW, N.Y., May 22, 2024 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank and Courier Capital, LLC, announced today that its Board of Directors has approved a quarterly cash dividend of $0.30 per outstanding common share.

The Company also announced dividends of $0.75 per share on its Series A 3% preferred stock and $2.12 per share on its Series B-1 8.48% preferred stock.

All dividends are payable July 2, 2024, to shareholders of record on June 14, 2024.

About Financial Institutions, Inc.
Financial Institutions, Inc. (NASDAQ: FISI) is an innovative financial holding company with approximately $6.3 billion in assets offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.

For additional information contact:
Kate Croft
Director of Investor and External Relations
(716) 817-5159
klcroft@five-starbank.com

FAQ

What is the latest dividend announced by Financial Institutions, Inc. (FISI)?

Financial Institutions announced a quarterly cash dividend of $0.30 per common share.

When will Financial Institutions (FISI) pay the announced dividends?

The dividends will be payable on July 2, 2024.

What are the record dates for Financial Institutions' (FISI) latest dividends?

Shareholders must be on record by June 14, 2024, to receive the dividends.

What are the dividend amounts for Financial Institutions' (FISI) preferred stocks?

Dividends are $0.75 per share on Series A 3% preferred stock and $2.12 per share on Series B-1 8.48% preferred stock.