Lakeland Financial Corporation (LKFN) will raise its quarterly dividend by 15.4 percent to $0.30 per share in the second quarter of 2019.

The next dividend is payable on May 6, 2019 to shareholders of record as of April 25, 2019. A new annualized rate of $1.20 per share yields 2.6%.

“We are pleased to continue our history of double digit dividend increases for our shareholders. The dividend increase is the outcome of consistent long-term growth in earnings and its positive impact to our capital base. Over the last decade, we have increased our dividend by 190%,” said David M. Findlay, President and Chief Executive Officer.

Lake City Bank, a $4.9 billion bank headquartered in Warsaw, Indiana, is the fourth largest bank in the state, and the largest bank 100% invested in Indiana. Lake City Bank operates 50 branch offices in northern and central Indiana, delivering technology-driven solutions in a client-centric way to individuals and businesses. The bank is the single bank subsidiary of Lakeland Financial Corporation.