Financial Institutions, Inc. Announces 7.4% Increase in Common Stock Dividend
2022年2月18日 - 6:05AM
Financial Institutions, Inc. (NASDAQ:FISI) (the “Company”), parent
company of Five Star Bank, SDN Insurance Agency, LLC (“SDN”),
Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP
Capital”), announced today that its Board of Directors has approved
a quarterly cash dividend of $0.29 per outstanding common share, an
increase of $0.02 or 7.4% from the most recent quarter.
“Following strong earnings performance in 2021,
this 7.4% increase in the common stock dividend reflects our
Board’s confidence in the Company’s strategy and earnings
potential,” said President and Chief Executive Officer Martin K.
Birmingham. “Today’s announcement represents our 12th consecutive
annual dividend increase. This increase, and an ongoing share
repurchase program, demonstrate our continued commitment to
shareholder return.”
The Company also announced dividends of $0.75
per share on its Series A 3% preferred stock and $2.12 per share on
its Series B-1 8.48% preferred stock. All dividends are payable
April 4, 2022, to shareholders of record on March 18, 2022.
About Financial Institutions, Inc.
Financial Institutions, Inc. provides
diversified financial services through its subsidiaries Five Star
Bank, SDN, Courier Capital and HNP Capital. Five Star Bank
provides a wide range of consumer and commercial banking and
lending services to individuals, municipalities and businesses
through a network of more than 45 offices throughout Western and
Central New York State. SDN provides a broad range of
insurance services to personal and business clients. Courier
Capital and HNP Capital provide customized investment management,
investment consulting and retirement plan services to individuals,
businesses, institutions, foundations and retirement plans.
Financial Institutions, Inc. and its subsidiaries employ
approximately 600 individuals. The Company’s stock is listed
on the Nasdaq Global Select Market under the symbol
FISI. Additional information is available at
www.fiiwarsaw.com.
For additional information contact:
Shelly J. Doran(585)
627-1362sjdoran@five-starbank.com
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