Towne Bank Raises Dividend 3.7%

Dow Jones

May 21

By Katherine Hamilton

Towne Bank raised its quarterly cash dividend 3.7% to 28 cents a share.

The new payout, equal to $1.12 a year, represents an annual yield of 3.3% based on Tuesday's close of $34.09.

The dividend will be payable on July 10 to shareholders of record as of June 26.

The bank also said its board approved a $25 million donation to the TowneBank Foundation after the company sold its resort property management business in April for $250 million.

It also paid a special dividend of 70 cents a share on Wednesday, related to the sale.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

May 20, 2026 15:18 ET (19:18 GMT)

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