Bank Ozk, formerly Bank of the Ozarks, will raise its quarterly dividend by 4.8 percent to $0.22 per share in the first quarter of 2018.

The company has increased its quarterly cash dividend in each of the last thirty-four quarters.

The increased dividend is payable January 22, 2019 to shareholders of record as of January 15, 2019. A new annualized dividend rate of 88 cents per share yields an estimated 3.5% at a stock price of $24.63.

Bank OZK, formerly Bank of the Ozarks, Inc. is a bank holding company. The company provides a wide range of retail and commercial banking services through offices in Arkansas, Georgia, Florida, North Carolina, Texas, Alabama, South Carolina, California, New York and Mississippi. Deposit services include checking, savings, money market, time deposit and individual retirement accounts. Loan services include various types of real estate, consumer, commercial, industrial and agricultural loans. OZK also provides treasury management services for businesses, individuals and non-profit and governmental entities.