CHARLESTON, W.Va. - City Holding Co., the parent company of City National Bank, announced Thursday its board of directors has approved a 6 percent increase to its quarterly dividend.
The new 37-cent per share dividend is an increase of two cents over the 35-cent dividend the company paid out in the first quarter of 2013.
"I am very pleased with the Board's decision to once again increase the quarterly cash dividend" City president and chief executive Charles (Skip) Hageboeck said. "This increase reaffirms the Company's commitment of returning value to its shareholders.
The board last increased City's dividend in December 2011,when it raised it 3 percent from 34 cents to 35 cents per share.
The dividend will be paid April 30 to all shareholders of record as of April 15.