First Foundation Inc. (FFWM) will raise its quarterly dividend by 40.0 percent to $0.07 per share in 2020. Last year the company initiated a quarterly dividend of five cents and this marks the first ever increase.

The first ever dividend will be paid on March 16, 2020 to stockholders of record as of the close of business on March 5, 2020. The annualized dividend of 28 cents yields an estimated 1.7% at a stock price of $16.97.

First Foundation is a financial services company that provides financial services to individuals, businesses and other organizations. The company's integrated platform provides investment advisory and wealth management services, banking products and services, trust services, and life insurance services. FFWM provides business banking products and services to small to moderate-sized businesses and professional firms, and consumer banking products and services to individuals and families. The compan's investment advisory and wealth management, trust and insurance services provide substantial, fee-based, recurring revenues. First Foundation was founded in 1990 and has offices in California, Nevada and Hawaii with headquarters in Irvine, California.