First Midwest Bancorp, Inc. Declares Second Quarter Cash Dividend of $0.14 Per Share

Rhea-AI Summary

On May 19, 2020, First Midwest Bancorp announced a quarterly cash dividend of $0.14 per share, payable on July 7, 2020. This marks the 150th consecutive cash dividend since the company's inception in 1983. First Midwest, headquartered in Chicago, operates with approximately $20 billion in assets and manages an additional $11 billion. The company offers a variety of financial services across the Midwest, including commercial and private banking.

Positive

• Quarterly cash dividend of $0.14 per share, showing ongoing company profitability.
• 150th consecutive cash dividend reflecting strong financial stability.
• Total assets approximately $20 billion indicating solid financial foundation.

Negative

• None.

News Market Reaction – FMBI

-6.97%

1 alert

-6.97% News Effect

On the day this news was published, FMBI declined 6.97%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHICAGO, May 19, 2020 (GLOBE NEWSWIRE) -- First Midwest Bancorp, Inc. (the “Company” or “First Midwest”), today announced that its Board of Directors declared a quarterly cash dividend on the Company’s common stock of $0.14 per share.  This quarterly cash dividend will be payable on July 7, 2020 to common stockholders of record on June 26, 2020 and will represent the 150^th consecutive cash dividend paid by First Midwest since its inception in 1983.

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 $20 billion of assets and an additional $11 billion of assets under management. First Midwest Bank, Park 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 and across 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 amount of the dividend declared by FMBI?

The dividend declared by First Midwest Bancorp (FMBI) is $0.14 per share.

When will the dividend for FMBI be paid?

The dividend will be paid on July 7, 2020.

What is the record date for FMBI's dividend?

The record date for the dividend is June 26, 2020.

How many consecutive dividends has FMBI paid?

First Midwest Bancorp has paid 150 consecutive cash dividends since its inception.

What services does FMBI offer?

FMBI offers commercial banking, treasury management, equipment leasing, consumer banking, and wealth management services.