Prosperity Bancshares raises dividend for 21st consecutive year

Prosperity Bancshares (PB) will raise its quarterly dividend by 6.5 percent to 49 cents per share in 2020. This follows a 12.2 percent dividend hike by the financial holding company last year and also marks the 21st consecutive year of annual dividend increases.

The next dividend will be paid on January 4, 2021 to all shareholders of record as of December 15, 2020. A new annual dividend rate of $1.96 per share yields 3.3% at a stock price of $53.40.

Prosperity Bancshares, Inc. is a financial holding company. Through its bank subsidiary, Prosperity Bank, the company provides a range of financial products and services to small and medium-sized businesses and consumers. The company operates full service banking locations in Texas and Oklahoma.