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Prosperity Bancshares (PB) will raise it's quarterly dividend to $0.34 per share.

"I am also excited to announce that our Board raised the dividend to $0.34 per share for the fourth quarter 2016, an increase of 13.33%. The increased dividend reflects the continued confidence we have in our company," said David Zalman, Prosperity's Chairman and Chief Executive Officer.

The financial holding company, one of the Dividend Heroes for 2016, currently has a 2.2% dividend yield.