Stock Yards Bancorp, Inc. (NASDAQ: 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 increased the Company's quarterly cash dividend $0.01 or
4% to $0.25 per common share. The new rate will go into effect with the
next payment on December 31, 2015, to stockholders of record as of
December 14, 2015. This represents the second time the Company has
raised its dividend during 2015, reflecting a cumulative increase of
approximately 9% in the dividend rate over the past year.
Commenting on the announcement, David Heintzman, Chairman and Chief
Executive Officer, said, "Our Company's strong loan growth and financial
performance continues to position Stock Yards Bancorp to steadily
increase its dividend payments to stockholders, enabling them to
participate directly in our ongoing growth. As we strive to maintain a
strong capital base in support of expansion opportunities, we know that
our stockholders place high value on a regular, reliable and growing
cash payout. With today's announced increase, the eighth since 2010, our
dividend payments have increased more than 47% cumulatively over the
past five years."
Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $2.6 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.
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