The increase brings the bank's annual dividend payout to $2.00 per share. Based on Tuesday’s midday trading price of $86.81, the new rate represents an annual yield of approximately 2.3%, climbing from the previous 2.08%. This adjustment aligns the lender with a wider trend among major financial institutions that cleared the Fed's regulatory hurdles this year and subsequently authorized capital returns.

Investors on record as of August 7 will be eligible for the payment, which the bank expects to distribute on September 1.