Stock Yards Bancorp (SYBT) hikes dividend for 15th consecutive year
Stock Yards Bancorp (SYBT) declared a 3.3% dividend hike to $0.31 quarterly per share in 2024. This marks 15 consecutive years of increased dividends by SYBT.
Stock Yards Bancorp, Inc., 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. Last year SYBT hiked the dividend by 3.4%.
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. 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.
