First Business Financial raises quarterly dividend 10% to 25c per share

First Business Financial Services announced its board of directors has declared a quarterly cash dividend on its common stock of 25c per share which is equivalent to a dividend yield of 2.53% based on Friday’s market close price of $39.56. The quarterly dividend represents a 10% increase over the quarterly dividend declared in October 2023, and, based on fourth quarter 2023 earnings per share, represents a dividend payout ratio of 22%. This regular cash dividend is payable on February 21, 2024, to shareholders of record at the close of business on February 8, 2024. “First Business Bank is committed to delivering value to our shareholders through consistent and profitable growth,” said Chief Executive Officer Corey Chambas. “The 10% increase in our common dividend reflects our confidence in our business strategy and our strong financial performance. We are proud to share our success with our shareholders while we continue to invest in our future growth opportunities.”