Dividend Aristocrat People's United Financial raises dividend by 1.4%
The new Dividend Aristocrat will raise its dividend to $0.18 per share quarterly, matching last year's dividend increase. The bank holding company has now increased its dividend for 27 consecutive years.
The higher dividend is payable May 15, 2020 to shareholders of record on May 1, 2020. The dividend yield is 6.1% at a stock price of $11.88.
Other Dividend Aristocrats raising their dividend in April are Johnson & Johnson (JNJ) and Procter & Gamble (PG).
People's United Bank, N.A. is a subsidiary of People's United Financial, Inc., a diversified, community-focused financial services company headquartered in the Northeast with over $60 billion in assets. Founded in 1842, People's United Bank offers commercial and retail banking through a network of over 400 retail locations in Connecticut, New York, Massachusetts, Vermont, New Hampshire and Maine, as well as wealth management and insurance solutions. The company also provides specialized commercial services to customers nationwide.