By Ben Glickman
Western Alliance Bancorp on Monday increased its quarterly dividend by 2.8%.
The Phoenix-based regional bank said in a regulatory filing that it has raised its quarterly cash payout to 37 cents from 36 cents.
The dividend, equal to $1.48 a year, represents an annual yield of 3.7% based on Friday’s closing price of $40.10.
Western Alliance said the dividend would be payable Dec. 1 to shareholders of record Nov. 17.
The company last boosted its payout to shareholders over a year ago, when it lifted the dividend to 36 cents from 35 cents.
Write to Ben Glickman at [email protected]
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