Stock Yards Bancorp Increases Quarterly Cash Dividend From $0.29 To $0.30 Per Common Share
Portfolio Pulse from Happy Mohamed
Stock Yards Bancorp, Inc. (NASDAQ:SYBT) has announced an increase in its quarterly cash dividend from $0.29 to $0.30 per common share. The dividend will be paid on October 2, 2023, to stockholders of record as of September 18, 2023. This marks the 16th time the company has raised its dividend rate since 2012, resulting in a cumulative increase of 125% over that period.
August 16, 2023 | 12:11 pm
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POSITIVE IMPACT
Stock Yards Bancorp's decision to increase its quarterly cash dividend could be seen as a sign of financial strength and may attract income-focused investors, potentially leading to a short-term increase in the stock price.
Dividend increases are often seen as a sign of a company's financial health and profitability. This could make the stock more attractive to income-focused investors, potentially leading to increased demand and a short-term rise in the stock price. However, the impact may be limited as the increase is relatively small.
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IMPORTANCE 75
RELEVANCE 100