Washington Trust Bancorp (WASH) will raise its quarterly dividend by 8.5 percent to $0.51 per share in 2019. This follows last year's 20.5 percent dividend hike by the parent of The Washington Trust Company.

The next dividend will be paid July 12, 2019 to shareholders of record on July 1, 2019. A new annualized $2.04 per share dividend rate yields 4.0% at a stock price of $50.56.

Washington Trust Bancorp, Inc. is the publicly-owned holding company of The Washington Trust Company. Founded in 1800, Washington Trust is the oldest community bank in the nation, the largest state-chartered bank headquartered in Rhode Island and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking, and wealth management and trust services, through its offices located in Rhode Island, Connecticut and Massachusetts.