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Stock Yards Bancorp maintains dividend at $0.30 per share

Published 05/23/2024, 12:50 AM

LOUISVILLE, Ky. - Stock Yards Bancorp, Inc. (NASDAQ:SYBT), the parent company of Stock Yards Bank & Trust Company, announced today that its Board of Directors has declared a consistent quarterly cash dividend of $0.30 per common share. The dividend is scheduled to be paid on July 1, 2024, to shareholders on record as of June 17, 2024.

This declaration follows the company's practice of maintaining its dividend payout, reflecting a continuation of its previous quarter's distribution. Stock Yards Bancorp, with a history dating back to 1904 and assets totaling $8.12 billion, operates through its banking subsidiary in various regions including Louisville, central, eastern, and northern Kentucky, as well as the metropolitan areas of Indianapolis, Indiana, and Cincinnati, Ohio.

The company has emphasized its commitment to providing value to its shareholders through regular dividend payments.

The information in this article is based on a press release statement from Stock Yards Bancorp, Inc.

InvestingPro Insights

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) recently upheld its tradition of rewarding shareholders, announcing a steady quarterly dividend. This move aligns with the company's impressive track record of dividend consistency and growth. An InvestingPro Tip highlights that SYBT has not only maintained but raised its dividend for 36 consecutive years, showcasing its commitment to providing shareholder value over the long term.

Investors looking at SYBT's financials will find a company with a solid foundation. According to InvestingPro Data, the company's market capitalization stands at $1.44 billion, with a Price/Earnings (P/E) Ratio of 13.61 as of the last twelve months leading up to Q1 2024. This P/E ratio offers a glimpse into the valuation of the company, suggesting a potentially attractive price point for value investors. Additionally, the Price/Book (P/B) ratio of 1.64 can be appealing for those looking at the company's net asset value compared to its market valuation.

Another InvestingPro Tip for those considering SYBT is the positive sentiment among analysts, with 5 analysts recently revising their earnings estimates upwards for the upcoming period. This could indicate a favorable outlook on the company's financial performance, further supported by the prediction that SYBT will remain profitable this year.

For those interested in further insights and tips, there are more available on InvestingPro, which can be accessed with a coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription. Currently, InvestingPro lists an additional 5 tips for SYBT, providing a deeper dive into the company's financial health and future prospects.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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