First Foundation hikes dividend by 22.2%

First Foundation Inc. (FFWM) will raise its quarterly dividend by 22.2 percent to 11 cents per share. This follows a dividend hike of 28.6 percent to 9 cents per share in 2021. The company initiated a quarterly dividend of five cents two years ago.

The next dividend will be paid on February 17, 2022 to stockholders of record as of the close of business on February 10, 2022. The annualized dividend of 44 cents yields an estimated 1.7% at a stock price of $26.15.

First Foundation is a financial services company that provides financial services to individuals, businesses and other organizations. The company's integrated platform provides investment advisory and wealth management services, banking products and services, trust services, and life insurance services. FFWM provides business banking products and services to small to moderate-sized businesses and professional firms, and consumer banking products and services to individuals and families. The compan's investment advisory and wealth management, trust and insurance services provide substantial, fee-based, recurring revenues. First Foundation was founded in 1990 and has offices in California, Nevada and Hawaii with headquarters in Irvine, California.