First Midwest Bancorp, Inc. Declares Quarterly Dividends

First Midwest Bancorp declared a quarterly cash dividend of $0.14 per share on common stock, to be paid on October 12, 2021.

Rhea-AI Summary

First Midwest Bancorp declared a quarterly cash dividend of $0.14 per share on common stock, to be paid on October 12, 2021. This marks the 155th consecutive cash dividend since 1983. Additionally, a dividend of $17.50 per share was approved for its 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A and C, payable on November 20, 2021. These dividends underscore the company's stability, with approximately $22 billion in assets and a strong market presence.

Positive

• Declared a quarterly cash dividend of $0.14 per share, affirming company profitability.
• The 155th consecutive cash dividend signifies long-term financial stability and shareholder value.
• Declared $17.50 dividend on preferred stock, showing commitment to preferred shareholders.

Negative

• None.

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News Market Reaction – FMBI

In the trading session that priced this news, FMBI declined 1.60%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

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CHICAGO, Aug. 26, 2021 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (“First Midwest”) today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on its common stock. This quarterly cash dividend will be payable on October 12, 2021 to common stockholders of record on September 24, 2021 and will represent the 155^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 First Midwest’s 7.0% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A (NASDAQ: FMBIP) and Series C (NASDAQ: FMBIO). The dividends are payable on November 20, 2021 to stockholders of record as of the close of business on November 5, 2021.

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 $22 billion of assets and an additional $15 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. The primary footprint of First Midwest’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:	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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the dividend amount declared by First Midwest Bancorp?

First Midwest Bancorp declared a quarterly cash dividend of $0.14 per share on its common stock.

When will the cash dividend be paid?

The cash dividend will be payable on October 12, 2021.

What is the record date for the common stock dividend?

The record date for the common stock dividend is September 24, 2021.

What is the dividend amount for the preferred stock?

The quarterly cash dividend for the preferred stock is $17.50 per share.

When will the preferred stock dividend be paid?

The preferred stock dividend will be payable on November 20, 2021.