Raising its quarterly dividend by a penny per share, regional bank operator Washington Federal (NASDAQ:WAFD) has increased its payout to shareholders by 12.5%.

The $0.09-per-share quarterly payout to shareholders of record on April 5 will be the bank's 121st consecutive quarterly cash dividend. The dividend will be payable on April 19.

Washington Federal operates 188 branches in Washington, Oregon, Idaho, Utah, Nevada, Arizona, Texas, and New Mexico. The bank was established in 1917 and provides consumer and commercial deposit accounts, insurance products, and financing for small to middle market businesses, commercial real estate, and residential real estate. 

After slashing its dividend 76% in 2008 at the height of the housing crisis, cutting it from $0.21 to $0.05 per share, the bank has steadily raised it each year since 2010.

Washington Federal reported $13.1 billion in assets on Dec. 31, including $9.2 billion in deposits and $1.9 billion in stockholders' equity. The chart does not include the current dividend increase.

WAFD Dividend Chart

WAFD Dividend data by YCharts.