CVB Financial Corp (CVBF) will raise its quarterly dividend by 28.6 percent to $0.18 per share in 2019. This is the first dividend increase by the holding company since 2017.

The next dividend will be payable on or about April 17, 2019 to shareholders of record as of April 6, 2019. A new annual rate of 72 cents per share yields 3.4% at a stock price of $20.22.

“We are pleased to announce a $0.04 increase in our first quarter dividend to $0.18 per share. This represents our 118th consecutive cash dividend paid to our shareholders,” said Christopher D. Myers, President and Chief Executive Officer.

CVB Financial Corp. is the holding company for Citizens Business Bank. CVBF is one of the 10 largest bank holding companies headquartered in California with over $11 billion in total assets. Citizens Business Bank is consistently recognized as one of the top performing banks in the nation and offers a wide array of banking, lending and investing services through 62 banking centers and 3 trust office locations serving the Inland Empire, Los Angeles County, Orange County, San Diego County, Ventura County, Santa Barbara County, and the Central Valley area of California.