Glacier Bancorp (GBCI) has announced a 3.4 percent dividend increase to 30 cents per share quarterly. Last year the banking company hiked its dividend by 11.5 percent and also announced a special dividend of 20 cents per share, paid on January 16, 2020. Glacier Bancorp has now announced a dividend hike for nine consecutive years.

The next dividend is payable on October 22, 2020, to owners of record on October 13, 2020. The regular annual rate of $1.20 per share yields 3.7% at a stock price of $33.59. In its press release annoucing this new dividend hike Glacier Bancorp states that the company has declared 142 consecutive quarterly dividends and has increased the dividend 46 times. 

The average dividend growth rate for the last five years is 9.6 percent annually for Glacier Bancorp. The company will now pay its shareholders an estimated dividend of $114 million annually. Glacier paid special dividends in 2020, 2019, 2017 (two special dividends), 2016 and 2015.

Glacier Bancorp, Inc. provides commercial banking services. The company offers a wide range of banking products and services, including retail banking business banking, real estate, commercial, agriculture, consumer and municipal loans; and mortgage origination services. The company serves individuals, small to medium-sized businesses, community organizations and public entities. Glacier Bancorp is the parent company for Glacier Bank, Kalispell, and its bank divisions: Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank of Bozeman (MT), First Security Bank of Missoula (MT), First State Bank (Wheatland, WY), Mountain West Bank (Coeur d’Alene, ID), North Cascades Bank (Chelan, WA), The Foothills Bank (Yuma, AZ), Valley Bank of Helena (MT), and Western Security Bank (Billings, MT).