First Midwest Bancorp, Inc. Declares Dividends

First Midwest Bancorp declared a quarterly cash dividend of $0.14 per share on common stock, payable on January 12, 2021, for stockholders of record on December 18, 2020.

Rhea-AI Summary

First Midwest Bancorp declared a quarterly cash dividend of $0.14 per share on common stock, payable on January 12, 2021, for stockholders of record on December 18, 2020. This marks the 152nd consecutive cash dividend since its inception in 1983. Additionally, a dividend of $17.50 per share on its 7.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock (Series A and C) will be payable on February 20, 2021, to stockholders of record by February 5, 2021. First Midwest operates with approximately $21 billion in assets.

Positive

• 152 consecutive cash dividends demonstrate company stability and shareholder returns.
• Quarterly cash dividend of $0.14 per share reflects confidence in financial performance.

Negative

• None.

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News Market Reaction – FMBI

In the trading session that priced this news, FMBI declined 0.07%, reflecting a mild negative market reaction.

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CHICAGO, Nov. 20, 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 January 12, 2021 to common stockholders of record on December 18, 2020 and will represent the 152^nd 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 February 20, 2021 to stockholders of record as of the close of business on February 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 $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: 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

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

What is the dividend payment amount for First Midwest Bancorp (FMBI) in January 2021?

First Midwest Bancorp announced a dividend payment of $0.14 per share for January 2021.

When is the dividend for First Midwest Bancorp (FMBI) payable?

The dividend is payable on January 12, 2021.

What is the record date for First Midwest Bancorp's (FMBI) dividend?

The record date for the dividend is December 18, 2020.

How often does First Midwest Bancorp (FMBI) pay dividends?

First Midwest Bancorp pays quarterly dividends.

What was the dividend declared for the preferred stock of First Midwest Bancorp (FMBI)?

A dividend of $17.50 per share was declared for the 7.000% Fixed Rate Non-Cumulative Perpetual Preferred Stock.