Territorial Bancorp (TBNK) will pay a second special dividend of 50 cents per share in 2019. Earlier this year the bank holding company already paid a 10 cent special dividend. Also the regular dividend was hiked by 4.5 percent to 23 cents quarterly.

The special cash dividend of $0.50 per share payable on December 18, 2019 to shareholders of record as of December 4, 2019. The special dividend payment yields 1.7% at a stock price of $30.80. The regular dividend yields 3.0%.

Allan Kitagawa, Chairman and Chief Executive Officer, said, “We are pleased to announce a special dividend of $0.50 per share. As you know, we have had some one-time gains this year that put us ahead of the earnings we had for the first 3 quarters of 2018. We believe our capital levels are sufficient to permit us to declare our second special dividend for the year while still allowing us to execute our business plan. We will also continue our stock repurchase plan at a price that makes financial sense for our shareholders. Our Board of Directors will continue evaluating all avenues to enhance long-term shareholder returns. Including this special dividend and other dividends paid in 2019, stock purchased in our initial public offering at $10.00 per share will earn dividends equal to 14.9% of their initial investment in Territorial Bancorp Inc.”

Territorial Bancorp Inc. is a bank holding company. Its subsidiary Territorial Savings Bank provides financial services to individuals, families and businesses through its banking offices located throughout the State of Hawaii.