SYS-CON MEDIA Authors: Doug Masi, Mat Mathews, Newswire, David Smith, Tim Crawford

News Feed Item

First Midwest Bancorp, Inc. Increases Cash Dividend to $0.08 per Share

ITASCA, IL -- (Marketwired) -- 05/21/14 -- First Midwest Bancorp, Inc. ("First Midwest") (NASDAQ: FMBI), the holding company for First Midwest Bank, today announced that its Board of Directors has approved a 14.3% increase in its quarterly cash dividend on its common stock to $0.08 per share. This quarterly cash dividend will be payable on July 15, 2014 to common stockholders of record on June 27, 2014 and will represent the 126th consecutive dividend paid by First Midwest since its inception in 1983.

"This represents our third dividend increase within the last twelve months and reflects our continued confidence in our performance momentum and business strategy," said Michael L. Scudder, President and Chief Executive Officer of First Midwest. "As our recently-announced transaction with Popular Community Bank indicates, our strong capital position allows us to grow our business and return value to our stockholders."

First Midwest, with assets of $8.3 billion, is the premier relationship-based banking franchise in the dynamic Chicagoland banking market. As one of the Chicago metropolitan area's largest independent bank holding companies, First Midwest, through its subsidiary bank, provides a full range of business, retail banking and wealth management services through approximately 90 offices located in communities in metropolitan Chicago, northwest Indiana, central and western Illinois, and eastern Iowa.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.