Pacific Continental Hikes Dividend 11%

Banking firm Pacific Continental  announced yesterday its third-quarter dividend of $0.10 per share, an 11% increase in the payout made to investors last quarter of $0.09 per share. The board of directors also said it would pay a special cash dividend of $0.12 per share.

Noting the special dividend rewarded investors while at the same time leveraged the bank's capital position, Pacific Continental CEO Hal Brown credited "increasing client activity and growth in the loan portfolio, together with consistent improvement in credit quality metrics, provide the basis for an increase in the regular dividend."

Both the common and the special dividends are payable Nov. 12 to shareholders of record at the close of business on Oct. 28. The regular dividend payment equates to a $0.40-per-share annual dividend, yielding 3% based on the closing price yesterday of Pacific Continental's stock.

PCBK Dividend Chart

PCBK Dividend data by YCharts


The article Pacific Continental Hikes Dividend 11% originally appeared on

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story