Stock Yards Bancorp (SYBT) 8-K Stock Yards Bancorp Increases Quarterly Cash Dividend to $0.31 Per Common Share

EXHIBIT 99.1

Stock Yards Bancorp Increases Quarterly Cash Dividend to $0.31 Per Common Share

LOUISVILLE, Ky., Aug. 21, 2024 (GLOBE NEWSWIRE) -- Stock Yards Bancorp, Inc. (NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in the Louisville, central, eastern and northern Kentucky, as well as the Indianapolis, Indiana and Cincinnati, Ohio metropolitan markets, announced that its Board of Directors increased its cash dividend to $0.31 per common share. The dividend will be paid on October 1, 2024, to stockholders of record as of September 16, 2024.

Commenting on the announcement, James A. (Ja) Hillebrand, Chairman and Chief Executive Officer, said, “Our strong and consistent profitability and solid capital position contributes to our ability to steadily increase dividends and to further build shareholder value. With this announcement, Stock Yards Bancorp has now raised its quarterly dividend rate a total of 17 times since 2011, resulting in a cumulative increase of 158% over that time.”

Louisville, Kentucky-based Stock Yards Bancorp, Inc., with $8.32 billion in assets, was incorporated in 1988 as a bank holding company. It is the parent company of Stock Yards Bank & Trust Company, which was established in 1904. The Company’s common shares trade on The Nasdaq Stock Market under the symbol “SYBT.” For more information about Stock Yards Bancorp, visit the Company’s website at www.syb.com.

Contact:	T. Clay Stinnett
	Executive Vice President, Treasurer
	and Chief Financial Officer
	(502) 625-0890