Feb. 25--First Midwest Bancorp Inc. is raising its quarterly cash dividend by 12 percent, the fourth hike in its payout in the past two years.
The Itasca-based operator of First Midwest Bank will pay 9 cents a share, up a penny from the previous quarter's dividend.
The boost "demonstrates the continuing confidence we have in our company and business strategy," Chief Executive Michael Scudder said in a statement.
The dividend is payable April 14 to common shareholders of record as of March 27.
It's the 129th straight dividend paid by First Midwest since it was founded in 1983.
First Midwest has $9.4 billion in assets and about 110 branches in Illinois, Indiana and Iowa.
byerak@tribpub.com
