Preferred Bank Los Angeles Raises Quarterly Dividend to 75c/Shr

Dow Jones

Dec 27, 2024

By Stephen Nakrosis

Preferred Bank Los Angeles said Thursday its board approved an increase in the quarterly cash dividend, raising it to 75 cents a share from 70 cents.

The new dividend, $3 on an annual basis, will be payable Jan. 23 to shareholders of record of Jan. 9.

The dividend represents a yield of about 3.4%, based on the bank's closing share price of $87.18 on Thursday.

In December of last year, the company increased its dividend to 70 cents a share from 55 cents.

Preferred Bank is an independent commercial bank headquartered in California.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 26, 2024 16:21 ET (21:21 GMT)

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