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 declared a quarterly cash dividend of $0.27 per common share. The dividend, which continues the higher rate set by the Board in November 2019, will be paid on July 1, 2020, to stockholders of record as of June 15, 2020.
Commenting on the announcement, Chief Executive Officer James A. (Ja) Hillebrand said, In these challenging economic times, the strength of the Companys balance sheet and financial performance gives our Board of Directors the confidence to maintain our dividend at the same rate. We continue to monitor economic activity and will evaluate future dividend increases at the appropriate time.
Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $3.8 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 Companys common shares trade on The NASDAQ Stock Market under the symbol SYBT. For more information about Stock Yards Bancorp, visit the Companys website at www.syb.com.
T. Clay Stinnett
Executive Vice President, Treasurer
and Chief Financial Officer