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

Old Second Bancorp, Inc. (NASDAQ:OSBC) declared a quarterly dividend on Tuesday, October 20th. Investors of record on Friday, October 30th will be paid 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 raised its dividend payment by an average of 0.4% annually over the last three years and has increased its dividend every year for the last 1 years. Old Second Bancorp has a payout ratio of 13.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 0.8%

NASDAQ OSBC traded down $0.21 during mid-day trading on Wednesday, reaching $24.89. 116,391 shares of the company’s stock traded hands, compared to its average volume of 419,435. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. Old Second Bancorp has a 1-year low of $17.11 and a 1-year high of $26.06. The company has a fifty day simple moving average of $25.14 and a 200-day simple moving average of $23.31. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 14.30 and a beta of 0.77.

Old Second Bancorp (NASDAQ:OSBC) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 expect that Old Second Bancorp will post 2.22 EPS 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.