Stock Yards Bancorp Increases Quarterly Cash Dividend to $0.31 Per Common Share

Rhea-AI Summary

Stock Yards Bancorp (NASDAQ: SYBT) has announced an increase in its quarterly cash dividend to $0.31 per common share, payable on October 1, 2024, to stockholders of record as of September 16, 2024. This marks the company's 17th dividend increase since 2011, representing a cumulative rise of 158% over that period. CEO James A. Hillebrand attributes this to the company's strong profitability and solid capital position.

Stock Yards Bancorp, headquartered in Louisville, Kentucky, is the parent company of Stock Yards Bank & Trust Company. With $8.32 billion in assets, it operates in Louisville, central, eastern and northern Kentucky, as well as Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets.

Positive

• Increased quarterly cash dividend to $0.31 per common share
• 17th dividend increase since 2011, cumulative rise of 158%
• Strong and consistent profitability reported
• Solid capital position mentioned by CEO
• $8.32 billion in assets

Negative

• None.

News Market Reaction – SYBT

+2.09%

+2.09% Session move

In the trading session that priced this news, SYBT gained 2.09%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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LOUISVILLE, Ky., Aug. 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 increased its cash dividend to $0.31 per common share. The dividend will be paid on October 1, 2024, to stockholders of record as of September 16, 2024.

Commenting on the announcement, James A. (Ja) Hillebrand, Chairman and Chief Executive Officer, said, “Our strong and consistent profitability and solid capital position contributes to our ability to steadily increase dividends and to further build shareholder value. With this announcement, Stock Yards Bancorp has now raised its quarterly dividend rate a total of 17 times since 2011, resulting in a cumulative increase of 158% over that time.”

Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $8.32 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

FAQ

When will Stock Yards Bancorp (SYBT) pay its newly announced dividend?

Stock Yards Bancorp (SYBT) will pay its newly announced dividend of $0.31 per common share on October 1, 2024.

What is the record date for Stock Yards Bancorp's (SYBT) latest dividend?

The record date for Stock Yards Bancorp's (SYBT) latest dividend is September 16, 2024.

How many times has Stock Yards Bancorp (SYBT) raised its dividend since 2011?

Stock Yards Bancorp (SYBT) has raised its quarterly dividend rate 17 times since 2011.

What is the cumulative increase in Stock Yards Bancorp's (SYBT) dividend since 2011?

Stock Yards Bancorp's (SYBT) dividend has seen a cumulative increase of 158% since 2011.

What is the current asset value of Stock Yards Bancorp (SYBT)?

Stock Yards Bancorp (SYBT) currently has $8.32 billion in assets.