Bank of the Ozarks (NASDAQ:OZRK) is rewarding its shareholders by paying a higher dividend. The company has declared a common stock dividend of $0.19 per share, to be handed out on July 19 to shareholders of record as of July 12. That amount is $0.02, or 12%, higher than the company's previous disbursement of $0.17 per share, which was paid in mid-April.

The firm has been a reliable dividend payer over the years. Since October 2011, it has raised its distribution every quarter, from $0.10 per share to the present level.

The just-declared dividend annualizes to $0.76 per share. That yields 1.7% at Bank of the Ozarks' current stock price of $43.75.

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