Discover the financial services stocks with the biggest dividend increases last month, June
Norwood Financial Corp recently announced an increased cash dividend of $0.29 per share, payable on August 1, 2023, to shareholders of record as of July 14, 2023. This represents a 3.6% rise compared to the cash dividend declared in the second quarter of 2022, and it matches the per share dividend declared in the first quarter of 2023. The decision to raise the dividend is attributed to Norwood's robust financial strength and strong capital position, which have contributed to its solid performance. Norwood Financial Corp, along with its subsidiary Wayne Bank, operates multiple branches in Northeastern Pennsylvania and New York. With total assets of $2.104 billion as of March 31, 2023, Norwood Financial Corp remains well-positioned in the market.
Trinity Capital Inc. (TRIN) recently announced an increased cash dividend of $0.53 per share for the quarter ending June 30, 2023, representing a 2.1% increase over the previous quarter's regular dividend. This dividend consists of a regular quarterly dividend of $0.48 per share and a supplemental cash dividend of $0.05 per share. Trinity Capital's Board of Directors authorized the supplemental dividend to comply with regulated investment company tax requirements for distributing its undistributed taxable income from fiscal 2023. The supplemental dividend will be paid out of Trinity Capital's undistributed taxable income as of December 31, 2022. Trinity Capital aims to distribute dividends that approximate 90% to 100% of its taxable quarterly income or potential annual income to qualify as a regulated investment company. Dividends may include a return of capital and/or capital gains, and the specific tax characteristics will be reported to stockholders on Form 1099-DIV and Trinity Capital's SEC filings.
United Security Bancshares, the parent company of United Security Bank, recently announced an increase in their regular quarterly cash dividend. On June 27, 2023, United Security Bancshares's Board of Directors declared a dividend of $0.12 per share on United Security Bancshares's common stock. The dividend will be paid out on July 24, 2023, to shareholders of record as of July 10, 2023.
W. R. Berkley Corporation (WRB), a renowned insurance and reinsurance holding company, recently made a significant move by increasing its regular cash dividend by 10% to an annual rate of 44 cents per share. This decision reflects W. R. Berkley's strong financial performance and its commitment to returning value to its shareholders. The first dividend payment at the new rate of 11 cents per share will be disbursed on June 30, 2023, to stockholders of record as of June 26, 2023. Moreover, W. R. Berkley's Board of Directors has also authorized the repurchase of up to 15 million shares of common stock, providing further opportunities for enhancing shareholder value.
Investar Holding Corporation (ISTRC), the parent company of Investar Bank, National Association (the "Bank"), recently announced a 5% increase in its quarterly cash dividend to $0.10 per share for shareholders of its common stock. This decision reflects Investar's commitment to rewarding its shareholders and highlights its strong financial performance. The dividend, payable on July 31, 2023, to shareholders of record as of July 3, 2023, marks the 39th consecutive quarterly dividend paid by Investar, following the Bank's uninterrupted streak of 11 quarterly cash dividends.
Alldata was sourced from LevelFields AI
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