Bank holding company SY Bancorp (NASDAQ: SYBT ) announced yesterday its second-quarter dividend of $0.20 per share, the same rate it paid the past two quarters after raising the payout 5% from $0.19 per share.
The board of directors said the quarterly dividend is payable on July 1 to the holders of record at the close of business on June 10. SY Bancorp was incorporated in 1988 and is the parent company of Stock Yards Bank & Trust, which was established in 1904.
SY also noted that its subsidiary Wilmington Trust Company will make a normal quarterly distribution on its 10% fixed-rate cumulative trust preferred securities on June 30. The distribution will be $0.25 on each $10 preferred security owned.
The regular dividend payment equates to a $0.80-per-share annual dividend yielding 3.3%, based on the closing price of SY Bancorp's stock on May 21.