Stock Yards Bancorp Increases Quarterly Cash Dividend to $0.31 Per Common Share
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.
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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.
Details
News Market Reaction – SYBT
The recorded move for SYBT in the trading session of this news was +2.09%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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
Louisville, Kentucky-based Stock Yards Bancorp, Inc., with
| Contact: | T. Clay Stinnett |
| Executive Vice President, Treasurer | |
| and Chief Financial Officer | |
| (502) 625-0890 |
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