Company: WTFCN
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001015328-25-000093
Chunk: 241

Company: WINTRUST FINANCIAL CORP
Filing Date: 2025-02-28
Form: 10-K
Item: Item 5
Chunk 241
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 payment of dividends is subject to statutory restrictions and restrictions arising under the terms of the Company's Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series D (the “Series D Preferred Stock”), the terms of the Company’s Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E (the “Series E Preferred Stock”), the terms of the Company’s Trust Preferred Securities offerings and under certain financial covenants in the Company’s revolving and term credit facilities. Under the terms of these separate revolving and term credit facilities, the Company is prohibited from paying dividends on any equity interests, including its common stock and preferred stock, if such payments would cause the Company to be in default under its credit facilities or exceed a certain threshold.

The following is a summary of the cash dividends paid in 2024 and 2023:

Record Date  Payable Date  Dividend per ShareNovember 7, 2024  November 22, 2024  $0.45August 8, 2024  August 22, 2024  $0.45May 9, 2024  May 23, 2024  $0.45February 8, 2024  February 22, 2024  $0.45November 9, 2023  November 24, 2023  $0.40August 10, 2023  August 24, 2023  $0.40May 11, 2023May 25, 2023$0.40February 9, 2023February 23, 2023$0.40

On January 23, 2025, Wintrust Financial Corporation announced that the Company’s Board of Directors approved a quarterly cash dividend of $0.50 per share of outstanding common stock. The dividend was paid on February 20, 2025 to shareholders of record as of February 6, 2025.

The final determination of timing, amount and payment of dividends is at the discretion of the Company’s Board of Directors and will depend on the Company’s earnings, financial condition, capital requirements and other relevant factors. Because the Company’s consolidated net income consists largely of net income of the banks and certain wealth management subsidiaries, the Company’s ability to pay dividends generally depends upon its receipt of dividends from these entities. The Company’s and the banks’ ability to pay dividends is