By Denny Jacob
First Business Financial Services Inc. on Friday said it raised its quarterly cash dividend to 22.75 cents a share from 19.75 cents.
The bank holding company, which providers commercial banking services, said the dividend is payable on Feb. 16 to shareholders of record at the close of business on Feb. 6.
First Business’ board also declared a dividend on the company’s Series A preferred stock of $17.50 a share, payable on March 15 to shareholders of record on Feb. 28.
The board on Friday also authorized a share repurchase authorization of $5 million.
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