Prosperity Bancshares (PB) will raise its quarterly dividend by 12.2 percent to $0.46 per share in 2019. This marks the 20th consecutive year of annual dividend hikes by the financial holding company.

The next dividend will be paid on January 2, 2020 to all shareholders of record as of December 16, 2019. A new annual dividend rate of $1.84 per share yields 2.5% at a stock price of $74.

Prosperity Bancshares, Inc. is a financial holding company. Through its bank subsidiary, Prosperity Bank, the company provides a range of financial products and services to small and medium-sized businesses and consumers. The company operates full service banking locations in Texas and Oklahoma.