Washington Trust increases dividend

WESTERLY – The Washington Trust Bancorp Inc., parent of The Washington Trust Co., is increasing its quarterly dividend for the 2011 first quarter, a sign that bank executives have a positive outlook of the bank’s immediate future.
The bank director raised the dividend one cent to 22 cents per share for the quarter ending March 31. The dividend will be paid on April 14 to shareholders of record on March 31.
Generally, publicly owned companies increase dividends – a distribution of profits to the ultimate owners of the company – when they are comfortable with the financial condition of the firm. When a company is struggling, dividends are frequently withheld so the company can retain capital.