Goldman Sachs Group (GS) will raise its quarterly dividend by another 47.1 percent to 1.15 per share in the third quarter of 2019. This is the second dividend hike by Goldman this year.

The next dividend will be paid on September 27, 2019 to common shareholders of record on August 30, 2019. A new dividend of $5.00 annualized yields 2.3% at a stock price of $214.

David M. Solomon, Chairman and Chief Executive Officer stated: “We’re encouraged by the results for the first half of the year as we continue to invest in new businesses and growth to serve a broader array of clients. Given the strength of our client franchise, we are well positioned to benefit from a growing global economy. And, our financial strength positions us to return capital to shareholders, including a significant increase in our quarterly dividend in the third quarter.”

The Goldman Sachs Group, Inc. is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. GS operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Goldman Sachs Group, Inc. began trading on the New York Stock Exchange on May 4, 1999.