Bank holding company Sterling Financial (UNKNOWN:STSA.DL) announced today it is paying a special dividend to investors of $0.35 per share. It previously paid a special dividend of $0.35 per share this past December.
The board of directors said the dividend is payable on July 12 to the holders of record at the close of business on June 28. The bank holding company began paying dividends in 2005 but suspended the payouts in 2009 at the height of the financial crisis. It reinitiated a dividend in 2012 at a rate of $0.15 per share and last quarter raised the payout 33% to $0.20 per share.
The regular dividend payment equates to a $0.80-per-share annual dividend, yielding 3.7% based on the closing price of Sterling Financial's stock on June 14.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.