First Republic Bank (FRC) will raise its quarterly dividend by 10 percent to 22 cents per share in 2021. This comes after a dividend hike of 5.3 percent to $0.20 per share in 2020. This marks the 9th consecutive year of annual dividend increases by the commercial bank and trust company.

The next dividend is payable on May 13, 2021 to shareholders of record as of April 29, 2021. A new annual dividend of 88 cents per share yields 0.5% at a stock price of $175.64. The ex-dividend date for the next dividend of 22 cents is April 28, 2021.

First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. First Republic specializes in delivering exceptional, relationship-based service and offers a complete line of products, including residential, commercial and personal loans, deposit services, and wealth management. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; and Jackson, Wyoming. First Republic Bank was founded in 1985 and became a public company in 2010 with dividends paid since 2012.