Bank of Hawaii (BOH) will raise its quarterly dividend by 4.8 percent to $0.65 per share in the second quarter of 2019. The new annual dividend rate of $2.60 per share yields 3.1% at the current stock price.

The dividend will be payable on June 14, 2019 to shareholders of record at the close of business on May 31, 2019. BOH has hiked its dividend every year since 2016.

Bank of Hawaii Corporation is a regional financial services company serving businesses, consumers and governments in Hawaii, American Samoa, and the West Pacific. The Company’s principal subsidiary, Bank of Hawaii, was founded in 1897 and is the largest independent financial institution in Hawaii.