LOUISVILLE, Ky.--(BUSINESS WIRE)--
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
5% to $0.20 per common share. The new rate will go into effect with the
next payment on July 3, 2017, to stockholders of record as of June 12,
2017.
Commenting on the announcement, David Heintzman, Chairman and Chief
Executive Officer, said, "We believe our stockholders place a high value
on regular, reliable and growing cash dividends. With today's
announcement, Stock Yards Bancorp has raised its quarterly dividend rate
a total of 10 times since the beginning of 2012, including two increases
in each of the past three years, resulting in a cumulative increase of
58%. We are pleased the Company's strong financial performance continues
to provide a solid foundation for this growth, and we welcome the
opportunity to allow our stockholders to participate in our progress in
a direct and tangible way."
Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $3.0 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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Stock Yards Bancorp, Inc.
Nancy B. Davis, 502-625-9176
Executive
Vice President, Treasurer and Chief Financial Officer
Source: Stock Yards Bancorp, Inc.