Financial Institutions, Inc. Announces Increase in Quarterly Cash Dividend
November 02 2016 - 4:05PM
Financial Institutions, Inc. (the “Company”) (NASDAQ:FISI)
announced today that its Board of Directors has approved a
quarterly cash dividend of $0.21 per outstanding common share, an
increase of 5% from the previous level of $0.20. 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 January 3, 2017, to shareholders of
record on December 12, 2016.
Martin K. Birmingham, President and Chief
Executive Officer, stated, “We are pleased to announce the Board’s
decision to increase the quarterly dividend to common shareholders.
This decision was based on our strong operating performance and
capital position, and reflects our commitment to the enhancement of
total shareholder return.”
About Financial Institutions,
Inc.
Financial Institutions, Inc. provides
diversified financial services through its subsidiaries, Five Star
Bank, Scott Danahy Naylon and Courier Capital. Five Star Bank
provides a wide range of consumer and commercial banking services
to individuals, municipalities and businesses through a network of
more than 50 offices and 60 ATMs throughout Western and Central New
York State. Scott Danahy Naylon provides a broad range of insurance
services to personal and business clients across 44 states. Courier
Capital provides 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 the Company’s website: www.fiiwarsaw.com.
For additional information contact:
Kevin B. Klotzbach
Executive VP, Chief Financial Officer & Treasurer
Phone: 585.786.1130
Email: KBKlotzbach@five-starbank.com
Shelly J. Doran
Director - Investor and External Relations
Phone: 585.627.1362
Email: SJDoran@five-starbank.com
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