On January 17, 2023, Signature Bank (trading symbol SBNY) declared an increased quarterly dividend of $0.70 per share, up from $0.56 per share previously. This is the first ever dividend hike announced by the bank. The dividend yield for SNBY is 2.3% at a stock price of $121.

The Bank Declared a Cash Dividend of $0.70 Per Share, an Increase of $0.14 Per Share, Payable on or After February 10, 2023 to Common Shareholders of Record at the Close of Business on January 27, 2023. The Bank Also Declared a Cash Dividend of $12.50 Per Share Payable on or After March 30, 2023 to Preferred Shareholders of Record at the Close of Business on March 17, 2023.

Signature Bank, member FDIC, is a New York-based full-service commercial bank with 40 private client offices throughout the metropolitan New York area, as well as those in Connecticut, California, Nevada and North Carolina. Through its single-point-of-contact approach, the Bank’s private client banking teams primarily serve the needs of privately owned businesses, their owners and senior managers. The Bank has two wholly owned subsidiaries: Signature Financial, LLC, provides equipment finance and leasing; and, Signature Securities Group Corporation, a licensed broker-dealer, investment adviser and member FINRA/SIPC, offers investment, brokerage, asset management and insurance products and services.