Wintrust Financial Corporation Announces Cash Dividends and New Share Repurchase Authorization
October 28 2021 - 4:01PM
Wintrust Financial Corporation (“Wintrust” or the “Company”)
(Nasdaq: WTFC) today announced that the Company’s Board of
Directors approved a quarterly cash dividend of $0.31 per share of
outstanding common stock. The dividend is payable on November 26,
2021 to shareholders of record as of November 11, 2021.
Additionally, the Company’s Board of Directors
approved quarterly cash dividends on outstanding shares of the
Company’s 6.50% Fixed-to-Floating Non-Cumulative Perpetual
Preferred Stock, Series D and of the Company’s 6.875% Fixed-Rate
Reset Non-Cumulative Perpetual Preferred Stock, Series E. Each
dividend is payable on January 15, 2022 to shareholders of record
as of January 1, 2022.
Additionally, the Company’s Board of Directors
authorized the repurchase of up to $200 million of the Company’s
common stock. This authorization is incremental to the
authorization remaining of approximately $23 million under the
previous program, which was approved in the fourth quarter of 2019.
Repurchases under such programs are subject to regulatory
limitations and will be determined by the Company’s management
based on their evaluation of market conditions, share price and
other factors. Repurchases may occur from time to time in open
market purchases, block transactions, accelerated share repurchase
programs or similar vehicles, or in privately negotiated
transactions. The share repurchase program may be suspended or
discontinued at any time.
About Wintrust
Wintrust is a financial holding company with
assets of over $47 billion whose common stock is traded on the
NASDAQ Global Select Market. Built on the "HAVE IT ALL" model,
Wintrust offers sophisticated technology and resources of a large
bank while focusing on providing service-based community banking to
each and every customer. Wintrust operates fifteen community bank
subsidiaries, with over 170 banking locations located in the
greater Chicago and southern Wisconsin market areas. Additionally,
Wintrust operates various non-bank business units including
business units which provide commercial and life insurance premium
financing in the United States, a premium finance company operating
in Canada, a company providing short-term accounts receivable
financing and value-added out-sourced administrative services to
the temporary staffing services industry, a business unit engaging
primarily in the origination and purchase of residential mortgages
for sale into the secondary market throughout the United States,
and companies providing wealth management services and qualified
intermediary services for tax-deferred exchanges.
Forward-Looking Information
This press release contains forward-looking
statements within the meaning of the federal securities laws.
Investors are cautioned that such statements are predictions and
actual events or results may differ materially. Wintrust's plans
with regard to the share repurchase program are subject to a number
of risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see "Risk
Factors" and the forward-looking statement disclosure contained in
Wintrust's most recent Annual Report on Form 10-K and Wintrust’s
subsequent filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the date made and
Wintrust undertakes no duty to update the information.
FOR MORE INFORMATION CONTACT:
Edward J. Wehmer, Founder & Chief Executive Officer
David A. Dykstra, Vice Chairman & Chief Operating Officer
(847) 939-9000
Website address: www.wintrust.com
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