First Midwest Bancorp 's has raised its quarterly common stock dividend by about 17% to 14 cents per share. The dividend will be paid on Jul 9 to shareholders on record as of Jun 28, 2019. Based on last day's closing price of $20.28 per share, the dividend yield is 2.76%. Prior to this hike, the company had raised its dividend by 9% to 12 cents per share in November 2018. Also, in March 2019, it approved a one-year share repurchase program, which includes authorization of up to $180 million of common stock. Given its earnings strength and impressive growth strategies, First Midwest is expected to continue enhancing shareholder value through efficient capital deployment activities. However, let's see whether it is worth considering First Midwest stock based on this dividend income. Let's dig deeper into its financial performance and fundamentals to understand the risks and rewards. First Midwest's revenues have witnessed a CAGR of 14.3% over the past five years (2014-2018).