First Busey Corporation (NASDAQ:BUSE) Raises Dividend to $0.26 Per Share

First Busey Corporation (NASDAQ:BUSE) declared a quarterly dividend on Tuesday, January 13th. Shareholders of record on Friday, January 23rd will be paid a dividend of 0.26 per share by the bank on Friday, January 30th. This represents a c) annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, January 23rd. This is a 4.0% increase from First Busey’s previous quarterly dividend of $0.25.

First Busey has decreased its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 10 years. First Busey has a dividend payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Busey to earn $2.82 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 35.5%.

First Busey Stock Up 2.1%

NASDAQ BUSE traded up $0.50 on Wednesday, hitting $24.20. 420,805 shares of the stock traded hands, compared to its average volume of 433,626. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The stock has a 50-day moving average of $23.89 and a 200 day moving average of $23.71. First Busey has a twelve month low of $18.40 and a twelve month high of $25.62. The company has a market capitalization of $2.14 billion, a P/E ratio of 21.04 and a beta of 0.79.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings results on Tuesday, October 28th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. First Busey had a net margin of 11.00% and a return on equity of 9.05%. The company had revenue of $197.46 million for the quarter, compared to the consensus estimate of $196.07 million. As a group, analysts expect that First Busey will post 2.61 earnings per share for the current fiscal year.

About First Busey

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.