Zions Bancorporation (NASDAQ:ZION) has declared its first dividend for this year. The bank's quarterly payout will be $0.01 per common share, to be disbursed Feb. 25 to stockholders of record as of Feb. 18.

The company has paid $0.01 every quarter since August 2009. Prior to that, the company handed out $0.04 per share. The current dividend equates to a yield of 0.2% on the current share price of $23.96.

2012 marked a transitional year for the bank, as it paid back the TARP funds loaned to it by the government during the financial crisis.