The new dividend, which rises from the previous 13.5 cents per share, is scheduled for distribution on August 10 to shareholders of record as of July 27. At an annualized rate of 60 cents, the payout represents a dividend yield of approximately 2.6%, calculated against Thursday’s closing market price of $22.80.

This move reinforces the company’s long-term financial strategy, securing its 85th consecutive quarterly cash dividend. For investors, the announcement serves as the 13th straight annual increase, highlighting the bank's commitment to returning capital despite shifts in the broader economic landscape.