WESTERLY – Washington Trust Bancorp Inc. board of directors last week approved a 43 cent per share dividend for this year’s first quarter, marking a 4 cent per share increase compared with the previous quarter.
The increase comes on the heels of the recent tax overhaul that many financial institutions projected would benefit the bottom line and subsequently its shareholders. The dividend will be paid April 13 to shareholders of record on April 2.
The parent of The Washington Trust Co., based in Westerly, has increased its cash dividend in 25 of the last 26 years. The bank, with $4.5 billion in assets, is the second-largest Rhode Island-based bank.