Published on 2 Oct 2023 on Zacks via Yahoo Finance

City Holding (CHCO) Hikes Dividend by 10%: What You Should Know

City Holding Company CHCO announced a quarterly cash dividend of 71.5 cents per share, indicating an increase of 10% from the prior payout. The dividend will be paid out on Oct 31 to shareholders of record as of Oct 13.

Prior to the recent hike, it increased its dividend by 8.3% in September 2022. CHCO raised its quarterly dividend five times in the last five years. Also, it has a five-year annualized dividend growth of 5.2%. Currently, the company's payout ratio is 32% of earnings.

Charles Hageboeck, president and CEO of City Holding, stated, "The company's current strong capital and liquidity position, our financial performance during 2023, and our confidence in the company's ability to sustain this performance led to the decision to increase the dividend to $2.86 on an annualized basis."