First Interstate BancSystem (FIBK) Raises Quarterly Dividend 9.7% to $0.34; 3.6% Yield

First Interstate BancSystem (NASDAQ: FIBK) declared a quarterly dividend of $0.34 per share, or $1.36 annualized. This is a 9.7% increase from the prior dividend of $0.31.

The dividend will be payable on February 20, 2020, to stockholders of record on February 10, 2020, with an ex-dividend date of February 7, 2020.

The annual yield on the dividend is 3.6 percent.

“We completed 2019 with a strong fourth quarter, as we generated sequential quarter improvement in our key performance metrics including efficiency ratio, return on average assets and return on average common equity,” said Kevin P. Riley, President and Chief Executive Officer of First Interstate BancSystem, Inc. “We executed well on our strategies for generating profitable growth and had a strong year of value creation in 2019, as we increased our tangible book value per share by 13.9% while returning $79.2 million of capital to shareholders through our quarterly dividend. We also significantly strengthened our franchise by increasing our presence in faster growing markets and investing in technology initiatives that expanded our products and services, improved our digital banking capabilities, and streamlined our workflow processes. We believe we are well positioned to continue generating profitable growth and further enhancing the value of our franchise in the coming years.”

For a dividend history and other dividend-related data on First Interstate BancSystem (FIBK) click here.

You May Also Be Interested In

• Z Squared outlines AI power strategy and Paradox Data acquisition
• Navient (NAVI) Declares $0.16 Quarterly Dividend; 6.9% Yield
• 3M Co. (MMM) Declares $0.78 Quarterly Dividend; 1.7% Yield