Stock Yards Bancorp hikes dividend by 3.8%
Stock Yards Bancorp (SYBT) will raise its quarterly dividend by another 3.8 percent to $0.27 per share in 2019. This brings the total dividend increase announced in 2019 to 8.0 percent.
The next dividend will be paid on December 31, 2019, to stockholders of record as of December 16, 2019. A new annual rate of $1.08 per share yields 2.7% at a stock price of $40.65.
Commenting on the announcement, James A (Ja) Hillebrand, Chairman and Chief Executive Officer, said, “We are pleased to announce another increase in our dividend rate as part of our continued efforts to maximize returns for our investors. The strength of the Company’s financial performance and its solid capital position makes this pattern of dividend growth possible, while we remain well positioned to capitalize on opportunities as they arise. With today’s announcement, Stock Yards Bancorp has now raised its quarterly dividend rate a total of 12 times since 2013, including two increases during 2019 and each of the previous five years, resulting in a cumulative increase of 88% over that time.”
Louisville, Kentucky-based Stock Yards Bancorp, Inc. is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The company’s commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses. The wealth management and trust segment provides investment management, trust and estate administration, and retirement plan services.
The next dividend will be paid on December 31, 2019, to stockholders of record as of December 16, 2019. A new annual rate of $1.08 per share yields 2.7% at a stock price of $40.65.
Commenting on the announcement, James A (Ja) Hillebrand, Chairman and Chief Executive Officer, said, “We are pleased to announce another increase in our dividend rate as part of our continued efforts to maximize returns for our investors. The strength of the Company’s financial performance and its solid capital position makes this pattern of dividend growth possible, while we remain well positioned to capitalize on opportunities as they arise. With today’s announcement, Stock Yards Bancorp has now raised its quarterly dividend rate a total of 12 times since 2013, including two increases during 2019 and each of the previous five years, resulting in a cumulative increase of 88% over that time.”
Louisville, Kentucky-based Stock Yards Bancorp, Inc. is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The company’s commercial banking segment provides a full range of loan and deposit products to individual consumers and businesses. The wealth management and trust segment provides investment management, trust and estate administration, and retirement plan services.
