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MADISON, Wis., April 27, 2017 -- First Business Financial Services, Inc. (“First Business”) (NASDAQ:FBIZ) announced its board of directors has declared a quarterly cash dividend on its common stock of $0.13 per share which is equivalent to a dividend yield of 1.85% based on Wednesday’s market close price of $28.16. The quarterly dividend is the same as the quarterly dividend declared in January 2017. On an annualized basis, the 2017 dividend amount is $0.52 per share, or a payout ratio of 33% based on first quarter 2017 earnings. This regular cash dividend is payable on May 25, 2017 to shareholders of record at the close of business on May 11, 2017.
Corey Chambas, President and Chief Executive Officer commented, “Payment of a regular cash dividend supports our long-term corporate objectives of generating shareholder value while maintaining sufficient capital to meet the needs of our clients and to drive future strategic growth initiatives.”
About First Business Financial Services, Inc.
First Business Financial Services is a Wisconsin-based bank holding company, focused on the unique needs of businesses, business executives and high net worth individuals. First Business offers commercial banking, specialty finance and private wealth management solutions, and because of its niche focus, is able to provide its clients with unmatched expertise, accessibility and responsiveness. For additional information, visit www.firstbusiness.com or call 608-238-8008.
This press release includes “forward-looking” statements related to First Business Financial Services, Inc. that can generally be identified as describing the Company’s future plans, objectives or goals. Such forward-looking statements are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those currently anticipated. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For further information about the factors that could affect the Company’s future results, please see the Company’s 2016 annual report on Form 10-K, quarterly reports on Form 10-Q and other filings with the Securities and Exchange Commission.
Contact: Edward G. Sloane, Jr. Chief Financial Officer First Business Financial Services, Inc. 608-232-5970 [email protected]
