Bank OZK (OZK) will raise its quarterly dividend by another 0.9 percent to $0.2725 per share in the third quarter of 2020. This is the third dividend hike announced in 2020 by the bank holding company. Bank OZK has increased its dividend 22 consecutive years.

The next dividend is payable July 20, 2020 to shareholders of record as of July 13, 2020. A new annualized dividend rate of $1.09 per share yields 4.7% at a stock price of $23.00.

Bank OZK, formerly Bank of the Ozarks, Inc. is a bank holding company. The Company owns a state-chartered subsidiary bank that conducts banking operations in Arkansas, Georgia, North Carolina, Texas, Florida, Alabama, South Carolina, New York and California. The company's deposit services, including checking, savings, money market, time deposit and individual retirement accounts and loan services, including real estate, consumer, commercial, industrial and agricultural loans and leasing services. OZK also provides services such as mortgage lending, lock box services and  financial planning and operates ATMs.