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updated: 5/15/2013 10:00 AM

First Midwest declares 4 cent per share dividend

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Itasca-based First Midwest Bancorp, Inc. the holding company for First Midwest Bank, said its board of directors approved a quarterly cash dividend on its common stock to 4 cents per share, payable on July 16 to common stockholders of record on June 28 and will represent the 122nd consecutive dividend paid by the company since its inception in 1983.

"The increase in our cash dividend reflects the significant progress made by our Company over the last year in improving its risk profile and earnings strength," said Michael L. Scudder, First Midwest's president and chief executive officer. "As we look ahead, confidence in our business strategy and our solid capital strength leaves us well positioned to pursue opportunities for growth and return value to our stockholders."

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