FS Bancorp (FSBW) Declares 2-for-1 Stock Split in the Form of Stock Dividend, Increased Quarterly Cash Dividend

FS Bancorp, Inc. (NASDAQ: FSBW) (the "Company"), the holding company for 1st Security Bank of Washington (the "Bank"), announced today that its Board of Directors declared a two-for-one stock split in the form of a 100% stock dividend, payable July 14, 2021, to shareholders of record as of July 6, 2021. Under the terms of the stock split, the Company’s shareholders will receive a dividend of one share for every share held on the record date. The dividend will be paid in authorized but unissued shares of the Company’s common stock.

The par value of the Company's stock will not be affected by the split and will remain at $0.01 per share. The Company anticipates that the outstanding shares of stock after the split will be increased from approximately 4.2 million shares to 8.4 million shares. The Company’s most recent quarterly cash dividend was $0.27 per share and was paid on May 20, 2021. The Board of Directors approved a one cent $0.01 increase at its June 24, 2021 meeting for shareholders as of July 23, 2021, payable on August 6, 2021. The quarterly dividend post-split is $0.14 per share.

Joe Adams, CEO, stated, “We are pleased to announce that the Board of Directors has determined that this stock split in the form of a stock dividend is in the best interest of our shareholders, as we anticipate the reduced trading price per share and the doubling of the shares outstanding will promote new investor interest and improve liquidity in the market. As always, our business strategy includes long term profitability and payment of dividends reflecting our strong commitment to enhancing shareholder value.”

Additional information on the stock dividend is available at http://investorrelations.fsbwa.com/stock/stock-splits including frequently asked questions and information on the timing of stock dividends.

You May Also Be Interested In

• Ball Corporation (BALL) Raises Dividend, Enters 40M Share Buyback, Announces Management Changes
• NASDAQ (NDAQ) Raises Quarterly Dividend 9.1% to $0.24; 1.6% Yield
• Grainger (GWW) Raises Quarterly Dividend 10.2% to $2.05; Approves Repurchase of up to 5M Shares