Old Second Bancorp, Inc. (NASDAQ:OSBC) Announces $0.07 Quarterly Dividend

Old Second Bancorp, Inc. (NASDAQ:OSBC) declared a quarterly dividend on Tuesday, July 21st. Shareholders of record on Friday, July 31st will be paid a dividend of 0.07 per share by the financial services provider on Monday, August 10th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, July 31st.

Old Second Bancorp has raised its dividend payment by an average of 0.4%annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Old Second Bancorp has a payout ratio of 13.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Old Second Bancorp to earn $2.26 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 12.4%.

Old Second Bancorp Price Performance

NASDAQ OSBC traded down $0.29 on Wednesday, hitting $23.39. 256,956 shares of the company’s stock were exchanged, compared to its average volume of 389,474. The stock has a 50-day moving average of $22.17 and a 200-day moving average of $21.00. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. Old Second Bancorp has a 52 week low of $16.42 and a 52 week high of $23.99. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 13.94 and a beta of 0.70.

Old Second Bancorp (NASDAQ:OSBC) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.03). Old Second Bancorp had a net margin of 20.07% and a return on equity of 12.67%. The business had revenue of $93.77 million during the quarter, compared to the consensus estimate of $94.80 million. Analysts expect that Old Second Bancorp will post 2.15 earnings per share for the current year.

About Old Second Bancorp

Old Second Bancorp, Inc is a bank holding company based in Aurora, Illinois, serving businesses and consumers through its primary subsidiary, Old Second National Bank. The company provides a broad range of commercial and retail banking services across the suburban Chicago marketplace, supported by a branch network and online platforms designed to meet the financial needs of local communities.

In its commercial banking division, Old Second offers lending solutions that include lines of credit, term loans, equipment financing and commercial real estate financing.