By Stephen Nakrosis
East West Bancorp said Thursday its board approved an increase to the quarterly dividend, raising it to 60 cents per share from 55 cents.
The new dividend, $2.40 per share on an annual basis, represents a yield of about 2.3%, based on the closing share price of $103.50 for the stock on Thursday.
The company last raised its dividend in January of last year.
Also on Thursday, East West Bancorp boosted its share repurchase authorization by $300 million.
The parent company of East West Bank has a market capitalization of $14.24 billion, 138.6 million shares outstanding and a public float of 137.2 million shares.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
January 23, 2025 16:48 ET (21:48 GMT)
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