S.Y. Bancorp Declares Quarterly Cash Dividend of $0.20 Per Common Share
Company Also Announces Upcoming Quarterly Distribution on Its Trust Preferred Securities
LOUISVILLE, Ky.--(BUSINESS WIRE)-- S.Y. Bancorp, Inc. (SYBT), parent company of Stock Yards Bank & Trust Company, with offices in the Louisville, Indianapolis and Cincinnati metropolitan markets, today announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per common share. The dividend, which continues the higher dividend rate set by the Board in November 2012, will be paid on April 1, 2013, to stockholders of record as of March 11, 2013.
Commenting on the announcement, David Heintzman, Chairman and Chief Executive Officer, said, "Consistency in cash dividend payments and the strength of our dividend yield are integral aspects of our ongoing efforts to enhance stockholder value. S.Y. Bancorp has never reduced or suspended dividend payments since they were initiated, and with two separate dividend increases last year alone and five over the past five years, we continue to build on this attractive record."
Separately, the Company noted that the Wilmington Trust Company, trustee for the 10% fixed-rate cumulative trust preferred securities issued by S.Y. Bancorp Capital Trust II, a Delaware statutory trust and 100%-owned finance subsidiary of S.Y. Bancorp, will make a normal quarterly distribution on the trust preferred securities on or about March 31, 2013. The amount of the quarterly distribution will be $0.25 on each $10 preferred security owned.
Louisville, Kentucky-based S.Y. Bancorp, Inc., with more than $2.15 billion in assets, was incorporated in 1988 as a bank holding company. It is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The Company's common shares trade on the NASDAQ Global Select Market under the symbol SYBT. The trust preferred securities of S.Y. Bancorp Capital Trust II also trade on the NASDAQ Global Select Market under the symbol SYBTP.
S.Y. Bancorp, Inc.
Nancy B. Davis, 502-625-9176
Executive Vice President, Treasurer and Chief Financial Officer
Source: S.Y. Bancorp, Inc.Copyright Business Wire 2013