Wintrust Financial Corporation Announces Cash Dividends and Share Repurchase Authorization
ROSEMONT, Ill., Oct. 24, 2019 (GLOBE NEWSWIRE) — Wintrust Financial Corporation (“Wintrust” or the “Company”) (Nasdaq: WTFC) today announced that the Company’s Board of Directors approved a quarterly cash dividend of $0.25 per share of outstanding common stock. The dividend is payable on November 21, 2019 to shareholders of record as of November 7, 2019.
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. The dividend is payable on January 15, 2020 to shareholders of record as of January 1, 2020.Additionally, the Company’s Board of Directors has authorized the Company to repurchase up to $125 million of its outstanding shares of common stock. “Our decision to authorize a share repurchase highlights our continuing confidence in Wintrust’s long-term growth and our commitment to promote long-term shareholder value,” said Edward J. Wehmer, the Company’s President and Chief Executive Officer. He further stated, “The authorization of the share repurchase will allow us to take advantage of opportunities as may be presented by the equities markets. We will continue to maintain the flexibility to invest in our current business, take advantage of strategic opportunities and pay dividends.” Wintrust may repurchase shares from time to time for cash in open market transactions or in privately negotiated transactions in accordance with applicable federal securities laws. The timing and amount of any repurchases will be determined by the Company’s management based on their evaluation of market conditions, share price and other factors. The share repurchase program may be suspended or discontinued at any time.About Wintrust
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. The dividend is payable on January 15, 2020 to shareholders of record as of January 1, 2020.Additionally, the Company’s Board of Directors has authorized the Company to repurchase up to $125 million of its outstanding shares of common stock. “Our decision to authorize a share repurchase highlights our continuing confidence in Wintrust’s long-term growth and our commitment to promote long-term shareholder value,” said Edward J. Wehmer, the Company’s President and Chief Executive Officer. He further stated, “The authorization of the share repurchase will allow us to take advantage of opportunities as may be presented by the equities markets. We will continue to maintain the flexibility to invest in our current business, take advantage of strategic opportunities and pay dividends.” Wintrust may repurchase shares from time to time for cash in open market transactions or in privately negotiated transactions in accordance with applicable federal securities laws. The timing and amount of any repurchases will be determined by the Company’s management based on their evaluation of market conditions, share price and other factors. The share repurchase program may be suspended or discontinued at any time.About Wintrust