Great Western Bancorp (GWB) will cut its quarterly dividend by another 93.3 percent to one cent per share in Q3 of 2020. This follows a 50.0 percent cut to 15 cents per share earlier in 2020. Last year the holding company raised its quarterly dividend by 20.0 percent to $0.30 per share, marking 4 consecutive years of dividend increases.

The next dividend will be paid on August 27, 2020, to all stockholders of record as of the close of business on August 13, 2020. The new annual dividend rate of 4 cents per share yields 0.3% at a stock price of $13.91.

Great Western Bancorp, Inc. is the holding company for Great Western Bank, a full-service regional bank focused on relationship-based business and agribusiness banking. Great Western Bank offers small and mid-sized businesses a focused suite of financial products and a range of deposit and loan products to retail customers through several channels, including the branch network, online banking system, mobile banking applications and customer care centers.