City Holding Company (CHCO) will raise its quarterly dividend by 7.5 percent to $0.57 per share in 2019. This marks the 8th consecutive year of annual dividend increases by the financial company.

The next dividend is payable on October 31, 2019 to shareholders of record as of October 15, 2019. A new annual rate of $2.28 per share yields 3.0% at a stock price of $75.

“Today, City’s board reaffirmed the Company’s commitment of returning value to its shareholders by approving an increase in City’s quarterly dividend of 4 cents to 57 cents,” stated Charles (Skip) Hageboeck, President and CEO. “The decision to increase the dividend to $2.28 on an annualized basis is based on the Company's current strong capital and liquidity position, our outstanding financial performance during 2019, and our confidence in the Company's ability to sustain this performance.”

City Holding Company is the parent company of City National Bank of West Virginia. City National operates branches across West Virginia, Virginia, Kentucky, and Ohio. City National offers various products and services, including commercial banking, consumer banking, mortgage banking, and wealth management and trust services.