S.Y. Bancorp Declares Regular Quarterly Cash Dividend of $0.14 Per Common Share; Effect of Recent Stock Dividend Increases Cash Payout 5%.
LOUISVILLE Louisville (l`ēvĭl), city (1990 pop. 269,063), seat of Jefferson co., NW Ky., at the Falls of the Ohio; inc. 1780. , Ky. -- S.Y. Bancorp, Inc. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SYBT), parent company of Stock Yards Bank & Trust Company in Louisville, southern Indiana Southern Indiana, in the United States, is notable because it is culturally distinct from the rest of the state. The area's geography has led to a blend of Northern and Southern culture that is not found in the rest of Indiana. and Indianapolis, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.14 per common share. The new dividend rate will be paid on July 1, 2006, to shareholders of record as of June 16, 2006.
Because of the Company's recent declaration of a stock dividend, the Company's upcoming dividend payment will be made on both old and new shares, effectively increasing the cash payment 5% from the previous quarter.
Commenting on the announcement, David P. Heintzman, Chairman and Chief Executive Officer, said, "We are delighted that we can again increase the Company's cash returns to shareholders. Over the last 12 months, S.Y. Bancorp has increased the effective dividend rate three times and, now, through the operation of our upcoming stock dividend distribution and the additional shares that will be outstanding at the time of this payment, we have increased the total return to shareholder even more. As we continue to expand the breadth and reach of our business, and as business conditions allow, we remain committed to creating greater value for our stockholders over time through growth in our dividend payout pay·out
1. The act or an instance of paying out.
2. A percentage of corporate earnings that is paid as dividends to shareholders. ."
Louisville, Kentucky-based S.Y. Bancorp, Inc., with $1.36 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. S.Y. Bancorp, Inc. also is the parent company of S.Y. Bancorp Capital Trust I, a Delaware Delaware, state, United States
Delaware (dĕl`əwâr, –wər), one of the Middle Atlantic states of the United States, the country's second smallest state (after Rhode Island). statutory business trust that is a 100%-owned finance subsidiary. The Company's Trust Preferred securities are listed on the Amex under the symbol SYI SYI Sell Your Item
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This report contains forward-looking statements forward-looking statement
A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and that involve risks and uncertainties. Although the Company's management believes the assumptions underlying the forward-looking statements contained herein are reasonable, any of these assumptions could be inaccurate. Therefore, there can be no assurance the forward-looking statements included herein will prove to be accurate. Factors that could cause actual results to differ from those discussed in forward-looking statements include, but are not limited to: economic conditions both generally and more specifically in the markets in which the Company and its subsidiaries operate; competition for the Company's customers from other providers of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
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