Press release
Financial Institutions, Inc. Announces Increase in Common Stock Dividend
Quarterly Dividend Increased 4% to $0.26 per share10th Consecutive Annual Increase WARSAW, N.Y., Feb. 27, 2020 (GLOBE NEWSWIRE) -- Financial Institutions,
About this update from Financial Institutions, Inc.
[{"type":"text","content":"Quarterly Dividend Increased 4% to $0.26 per share10th Consecutive Annual Increase WARSAW, N.Y., Feb. 27, 2020 (GLOBE NEWSWIRE) -- 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 $0.26 per outstanding common share – an increase of 4% from the most recent quarterly cash dividend – and the equivalent of $1.04 annually. 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 2, 2020, to shareholders of record on March 19, 2020.\n President and Chief Executive Officer Martin K. Birmingham stated, “Today’s announcement represents our 10th consecutive year of dividend growth. The dividend increase reflects continued confidence in the Company’s outlook by our Board of Directors and management and demonstrates a strong commitment to this component of the shareholder experience.” 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 50 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 700 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. Safe Harbor Statement This press release may contain forward-looking statements as defined by Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. Statements herein are based on certain assumptions and analyses by the Company...