Stock Yards Bancorp Declares Quarterly Cash Dividend of $0.30 Per Common Share

Rhea-AI Summary

Stock Yards Bancorp, Inc. (SYBT) declares a quarterly cash dividend of $0.30 per common share. The company, with $8.17 billion in assets, operates in multiple Kentucky markets and Indianapolis, Indiana, and Cincinnati, Ohio. The dividend payment is scheduled for April 1, 2024, to shareholders of record by March 18, 2024.

Financial Analyst

Dividend declarations are a critical aspect of a company's financial health and its commitment to shareholder value. In the case of Stock Yards Bancorp, Inc., the declared quarterly cash dividend of $0.30 per common share reflects a distribution strategy that can attract income-focused investors. By analyzing the dividend yield and comparing it to the industry average, we can gauge the attractiveness of this dividend in the current market climate. Additionally, assessing the payout ratio, which is the percentage of earnings paid to shareholders as dividends, provides insight into the sustainability of the dividend payments.

Furthermore, the consistency and growth of dividends over time are key indicators of a company's financial stability and management's confidence in future earnings. Investors often view such companies as more reliable investments. It's also important to consider the impact of this dividend declaration on the company's stock liquidity and market perception, as dividends can signal corporate health to the market.

Market Research Analyst

The regional focus of Stock Yards Bancorp, Inc. in the Louisville, central, eastern and northern Kentucky, as well as Indianapolis, Indiana and Cincinnati, Ohio markets, indicates a strategic presence in these areas. The announcement of the dividend may have a positive impact on the company's reputation within its operational markets, potentially influencing customer perception and loyalty. Additionally, analyzing the company's market share and competitive positioning within these regions can provide a broader context for the potential impact of the dividend on business growth and customer acquisition.

It is also relevant to examine the market trends for regional banking services, as well as the overall economic health of the areas served by Stock Yards Bancorp. This can offer insights into the company's strategic decision-making and potential for growth, especially in light of the current economic conditions and interest rate environment that directly affect banking operations and profitability.

LOUISVILLE, Ky., Feb. 21, 2024 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in the Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, announced that its Board of Directors has declared a quarterly cash dividend of $0.30 per common share. The dividend will be paid on April 1, 2024, to stockholders of record as of March 18, 2024.

Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $8.17 billion in assets, was incorporated in 1988 as a bank holding company. It is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The Company’s common shares trade on The NASDAQ Stock Market under the symbol “SYBT.” For more information about Stock Yards Bancorp, visit the Company’s website at www.syb.com.

Contact:	T. Clay Stinnett
	Executive Vice President, Treasurer
	and Chief Financial Officer
	(502) 625-0890

What is the dividend amount declared by Stock Yards Bancorp, Inc. (SYBT)?

Stock Yards Bancorp, Inc. (SYBT) has declared a quarterly cash dividend of $0.30 per common share.

When will the dividend be paid to Stock Yards Bancorp, Inc. (SYBT) shareholders?

The dividend will be paid on April 1, 2024, to stockholders of record as of March 18, 2024.

Where does Stock Yards Bancorp, Inc. (SYBT) operate?

Stock Yards Bancorp, Inc. (SYBT) operates in Louisville, central, eastern and northern Kentucky, Indianapolis, Indiana, and Cincinnati, Ohio metropolitan markets.

What is the total assets value of Stock Yards Bancorp, Inc. (SYBT)?

Stock Yards Bancorp, Inc. (SYBT) has $8.17 billion in assets.

On which stock exchange does Stock Yards Bancorp, Inc. (SYBT) trade?

Stock Yards Bancorp, Inc. (SYBT) common shares trade on The NASDAQ Stock Market.