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 $0.18 per share which is equivalent to a dividend yield of 3.9% based on Thursday’s market close price of $18.60. The quarterly dividend represents a 9% increase over the quarterly dividend declared in October 2020, and, based on fourth quarter 2020 earnings per share, a dividend payout ratio of 25.4%. This regular cash dividend is payable on February 18, 2021 to shareholders of record at the close of business on February 8, 2021.
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