Glacier Bancorp (NASDAQ:GBCI) is reaching into its vault for more cash to return to shareholders. The company this week declared its latest dividend, which is to be $0.15 per share paid on July 18 to shareholders of record as of July 9.
That amount is $0.01, or 7%, higher than both of the financial services firm's previous payouts of $0.14 per share. Prior to that, Glacier Bancorp handed out $0.13.
In the press release announcing the move, the company pointed out that it's paid 113 consecutive quarterly dividends, increasing them 35 times. The new dividend annualizes to $0.60 per share. That yields 2.7% at Glacier Bancorp's most recent closing stock price of $22.43.
Fool contributor Eric Volkman has no position in Glacier Bancorp. Nor The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.