First Republic Bank (FRC) will raise its quarterly dividend by 5.6 percent to $0.19 per share in 2019. This marks the 7th consecutive year of annual dividend increases. Last year the company hiked its dividend by 5.9 percent.

The next dividend is payable on May 9, 2019 to shareholders of record as of April 25, 2019. A new annual dividend of 76 cents per share yields 0.7% at a stock price of $103.

First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. First Republic specializes in delivering exceptional, relationship-based service and offers a complete line of products, including residential, commercial and personal loans, deposit services, and wealth management. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; and Jackson, Wyoming. First Republic Bank was founded in 1985 and became a public company in 2010 with dividends paid since 2012.