MB Financial Hikes Quarterly Dividend, Provides 1.9% Yield

MB Financial Inc (NASDAQ: MBFI) disclosed Friday that its Board has declared a cash dividend of $0.19 per share, up from $0.17 per share paid in recent quarters. On an annualized basis, the dividend worked out to $0.76 a share. The dividend offered a yield of 1.9 percent, which was higher than the five-year average dividend yield of 1.3 percent.

MB Financial said that the dividend would be payable on June 30 to holders of record of the Company's common stock as of June 15.

The latest dividend payout ratio worked out to be approximately 32 percent, which was higher than the five-year average dividend payout ratio of 23.0 percent. The company has been boosting its dividend rate for the four straight years. As a result, the five-year average dividend growth pace was 120.48 percent.

At time of writing MB Financial was up 1.18 percent.