Thursday, January 2nd the Board of Directors of Bank OZK (OZK) announced a quarterly dividend increase of from $0.41 to $0.42 per share that’s payable January 21, 2025 to holders of record January 14, 2025. This represents a 2.44% increase over the last quarterly dividend.
This is a 10.52% increase over the dividend paid during the same time last year, OZK raise dividends every quarter and have raised quarterly dividends for 58 quarters in a row.
With current price $44.08 (yesterday's close), this raise brings their dividend yield to 3.81%.
Bank OZK is a Dividend Champions with a 28 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 11.3, 11.7, 10.9 and 12.9 (Dividend Champions.xls)
After the last acquisition, my portfolio contains 100 shares of OZK and this announcement will increase my portfolio's projected annual net dividend income by $2.98.
The increase was in line with my expectations and I am happy to accept it.
This is the first dividend increase I received from Bank OZK since initiating a position September 2024.
Following this increase, my yield on cost is 4.16%.
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long OZK
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