Stock Yards Bancorp hikes dividend by 3.4% to $0.30 quarterly per share

On August 16, 2023, Stock Yards Bancorp (SYBT) declared a 3.4% dividend hike to $0.30 quarterly per share. This marks 14 consecutive years of increased dividends by SYBT. The dividend yield is 2.5% at a stock price of $47 and the next ex-dividend date for SYBT is September 15, 2023.

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 $0.30 per common share. The dividend will be paid on October 2, 2023, to stockholders of record as of September 18, 2023.

Commenting on the announcement, James A. (Ja) Hillebrand, Chairman and Chief Executive Officer, said, “Solid franchise growth 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 16 times since 2012, resulting in a cumulative increase of 125% over that time. The increased cash dividend highlights our continued growth and strong capital position.”

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.