First Interstate BancSystem Announces $0.47 Quarterly Dividend

Got story updates? Submit your updates here. ›

First Interstate BancSystem, Inc. (NASDAQ:FIBK), a bank holding company headquartered in Billings, Montana, announced a quarterly dividend of $0.47 per share on Tuesday, January 27th. The dividend will be paid on Friday, February 20th to shareholders of record on Tuesday, February 10th. This represents a c) annualized dividend and a yield of 5.2%.

Why it matters

The dividend announcement demonstrates First Interstate BancSystem's financial strength and commitment to returning capital to shareholders. As a regional bank serving the Western United States, the company's dividend policy is closely watched by investors in the financial services sector.

The details

First Interstate BancSystem has raised its dividend by an average of 0.1% annually over the last three years. The company's dividend payout ratio of 71.2% indicates its dividend is sufficiently covered by earnings, and analysts expect the company to continue being able to cover its $1.88 annual dividend with an expected future payout ratio of 69.1%.

• First Interstate BancSystem announced the quarterly dividend on Tuesday, January 27th.
• The dividend will be paid on Friday, February 20th to shareholders of record on Tuesday, February 10th.

What’s next

The ex-dividend date is Tuesday, February 10th, so investors must own First Interstate BancSystem shares by that date to be eligible for the $0.47 per share dividend.