Old Second Bancorp, Inc. (NASDAQ:OSBC) Raises Dividend to $0.08 Per Share

Key Points

• Old Second Bancorp raised its quarterly dividend 14.3% to $0.08 per share, equivalent to $0.32 annually and a 1.3% yield. Shareholders of record on October 30 will receive payment on November 9.
• The dividend appears well covered, with a current payout ratio of 13.7%; analysts expect an even lower forward payout ratio of 11.4% based on projected earnings.
• Shares fell 0.8% to $24.89 during Wednesday trading, while the company’s latest quarterly earnings of $0.55 per share matched analyst expectations.

Old Second Bancorp, Inc. (NASDAQ:OSBC - Get Free Report) declared a quarterly dividend on Tuesday, October 20th. Shareholders of record on Friday, October 30th will be given a dividend of $0.08 per share by the financial services provider on Monday, November 9th. This represents a $0.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, October 30th. This is a 14.3% increase from Old Second Bancorp's previous quarterly dividend of $0.07.

Old Second Bancorp has increased its dividend payment by an average of 0.4% per year over the last three years and has increased its dividend every year for the last 1 years. Old Second Bancorp has a dividend payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Old Second Bancorp to earn $2.45 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 11.4%.

Old Second Bancorp Trading Down 0.8%

NASDAQ OSBC traded down $0.21 during trading on Wednesday, hitting $24.89. The stock had a trading volume of 116,391 shares, compared to its average volume of 419,435. Old Second Bancorp has a twelve month low of $17.11 and a twelve month high of $26.06. The firm has a 50 day moving average price of $25.14 and a 200 day moving average price of $23.31. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.27 billion, a PE ratio of 14.30 and a beta of 0.77.

Old Second Bancorp (NASDAQ:OSBC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. Old Second Bancorp had a return on equity of 12.79% and a net margin of 20.22%. As a group, equities research analysts forecast that Old Second Bancorp will post 2.22 earnings per share for the current year.

Old Second Bancorp Company Profile

Old Second Bancorp, Inc is a bank holding company headquartered in Aurora, Illinois. Through its principal subsidiary, Old Second National Bank, the company provides banking and financial services to individuals, families, businesses and governmental entities.

Its offerings include checking and savings accounts, certificates of deposit, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and cash-management services. The bank also provides wealth management, trust and investment-related services through its financial services operations.

Founded in 1871, Old Second has a long history of serving communities in northern Illinois, including the Fox Valley and Chicago metropolitan area.

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