Glacier Bancorp (GBCI) will raise its quarterly dividend by 3.3 percent to 31 cents per share in 2021. Last year the bank paid a special dividend of 15 cents per share in Q1 of 2020. Earlier in 2020 the company announced a 3.4 percent dividend increase to 30 cents per share quarterly. In 2019 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 10 consecutive years.
The next dividend is payable on April 22, 2021, to owners of record on April 13, 2021. The regular annual rate of $1.24 per share yields 2.1% at a stock price of $58.59.
The average dividend growth rate for the last five years drops to 9.2 percent annually for Glacier Bancorp. The company pays shareholders an estimated regular dividend of $118 million annually, up from $114 million before this dividend hike. Glacier also 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).