Fifth Third Bancorp (FITB) will raise its quarterly dividend by 11.1 percent to 30 cents per share in 2021. This follows a dividend hike of 12.5 percent to $0.27 per share announced by USB in 2020 and marks 11 consecutive years of dividend increases.

The next FITB dividend of $0.30 per share is payable on October 15, 2021 to shareholders of record as of September 30, 2021. A new annualized dividend rate of $1.20 per share yields 3.0% to Fifth Third Bancorp shareholders at a stock price of $40.27. The next ex-dividend date for FITB stock is September 29, 2021.

Fifth Third Bancorp, organized in 1975, is a bank holding company  headquartered in Cincinnati, Ohio, and the parent company of Fifth Third Bank, an Ohio-chartered bank. Fifth Third operates full-service banking centers and ATMs with Fifth Third branding in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending and Wealth & Asset Management. Fifth Third Bank was established in 1858 and has paid a dividend every year since 1975.