By Stephen Nakrosis
Timberland Bancorp on Thursday said its board raised the company's quarterly dividend to 25 cents per share from 24 cents.
The new dividend will be payable on Nov. 29 to shareholders of record on Nov. 15.
The company raised its dividend as key financial metrics improved compared to the prior quarter and tangible book value per share continued an upward trajectory, it said.
The increased dividend, $1 on an annual basis, represents a dividend yield of about 3.4%, based on the closing share price of $28.88 for Timberland's stock on Thursday.
In January, Timberland raised its dividend to 24 cents per share from 23 cents.
Timberland Bancorp is the holding company for Timberland Bank, which serves customers in Washington state.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 31, 2024 17:45 ET (21:45 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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