First Midwest Bancorp, Inc. Declares Quarterly Dividends

Rhea-AI Summary

First Midwest Bancorp, Inc. declared a quarterly cash dividend of $0.14 per share on common stock, payable on July 13, 2021. This marks the 154th consecutive cash dividend paid since 1983. In addition, a dividend of $17.50 per share was declared on its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock (Series A and C), payable on August 20, 2021.

The Company, based in Chicago, has approximately $21 billion in assets and offers a range of financial services across the Midwest.

Positive

• Payment of a quarterly cash dividend of $0.14 per share demonstrates consistent financial performance.
• 154 consecutive cash dividends affirm the company's stability and shareholder commitment.
• Dividend for preferred stock provides income for shareholders.

Negative

• None.

CHICAGO, May 20, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the “Company”) 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 July 13, 2021 to common stockholders of record on June 25, 2021 and will represent the 154^th consecutive cash dividend paid by First Midwest since its inception in 1983.

In addition, the Board of Directors 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 the Company’s 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: FMBIP) and Series C (NASDAQ: FMBIO). The dividends are payable on August 20, 2021 to stockholders of record as of the close of business on August 5, 2021.

About the Company

The Company (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 $14 billion of assets under management. The Company and First Midwest Bank’s other affiliates provide a full range of commercial, treasury management, equipment leasing, consumer, wealth management, trust and private banking products and services. The primary footprint of the Company’s branch network and other locations is in metropolitan Chicago, southeast Wisconsin, northwest Indiana, central and western Illinois, and eastern Iowa. Visit First Midwest at www.firstmidwest.com.

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

FAQ

What is the dividend amount declared by FMBI?

The dividend amount declared by FMBI is $0.14 per share on common stock.

When will the FMBI common stock dividend be paid?

The FMBI common stock dividend will be paid on July 13, 2021.

How many consecutive dividends has FMBI paid?

FMBI has paid 154 consecutive cash dividends.

What is the dividend for FMBI's preferred stock?

The dividend for FMBI's preferred stock is $17.50 per share.

When is the preferred stock dividend payment date for FMBI?

The preferred stock dividend payment date for FMBI is August 20, 2021.