First Midwest Bancorp, Inc. Declares Dividends

Rhea-AI Summary

First Midwest Bancorp has declared a quarterly cash dividend of $0.14 per share, marking the 151st consecutive dividend since its inception in 1983. This dividend will be payable on October 6, 2020 to stockholders of record by September 25, 2020. Additionally, dividends of $17.50 per share for the 7.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock will be paid on November 20, 2020, with a record date of November 5, 2020.

Positive

• Consistent payment of dividends demonstrates financial stability and confidence.
• 151 consecutive cash dividends paid since 1983 enhances shareholder trust.

Negative

• None.

News Market Reaction – FMBI

-2.67%

1 alert

-2.67% News Effect

On the day this news was published, FMBI declined 2.67%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHICAGO, Aug. 21, 2020 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the “Company” or “First Midwest”), today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on the Company’s common stock. This quarterly cash dividend will be payable on October 6, 2020 to common stockholders of record on September 25, 2020 and will represent the 151^st consecutive cash dividend paid by First Midwest since its inception in 1983.

The Board of Directors also declared a quarterly cash dividend of $17.50 per share (equivalent to $0.4375 per depositary share or 1/40^th interest per share) on First Midwest’s 7.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: FMBIP) and Series C (NASDAQ: FMBIO). The dividends are payable on November 20, 2020 to stockholders of record as of the close of business on November 5, 2020.

About First Midwest

First Midwest (NASDAQ: FMBI) is a relationship-focused financial institution and one of the largest independent publicly traded bank holding companies based on assets headquartered in Chicago and the Midwest, with approximately $21 billion of assets and an additional $13 billion of assets under management. First Midwest Bank and First Midwest’s other affiliates provide a full range of commercial, treasury management, equipment leasing, consumer, wealth management, trust and private banking products and services. First Midwest operates branches and other locations throughout metropolitan Chicago, southeast Wisconsin, northwest Indiana, eastern Iowa and other markets in the Midwest. Visit First Midwest at www.firstmidwest.com.

Contacts
Investors:	Media:
Patrick S. Barrett	Maurissa Kanter
EVP, Chief Financial Officer	SVP, Director of Corporate Communications
708.831.7231	708.831.7345
pat.barrett@firstmidwest.com	maurissa.kanter@firstmidwest.com

FAQ

What is the upcoming dividend amount for FMBI?

First Midwest Bancorp is paying a quarterly cash dividend of $0.14 per share on October 6, 2020.

When is the record date for the FMBI cash dividend?

The record date for the cash dividend of $0.14 per share is September 25, 2020.

What will be the dividend for the preferred stock of FMBI?

The dividend for the 7.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock will be $17.50 per share.

When is the payment date for the preferred stock dividends of FMBI?

The preferred stock dividends will be payable on November 20, 2020.