Washington Trust Bancorp (WASH) will raise its quarterly dividend by 9.3 percent to $0.47 per share in the first quarter of 2019.

This is Washington Trust’s second dividend increase in 2018, as the Corporation also increased the dividend in the first quarter of 2018 by four cents. The dividend will be paid January 11, 2019 to shareholders of record on January 2, 2019.

A new annualized dividend rate of $1.88 per share yields 4.0% at a stock price of $46.57 for WASH.

Washington Trust Bancorp, Inc. is the publicly-owned holding company of The Washington Trust Company. Founded in 1800, Washington Trust is the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking, and wealth management and trust services, through its offices located in Rhode Island, Connecticut and Massachusetts.