CVB Financial Corp. in Ontario has announced a 19-cent per share cash dividend for the second quarter, a one-cent increase from the first quarter.
That marks the 131st consecutive quarter that the holding company for Citizens Business Bank has reported a quarterly dividend, according to a statement on the financial institution’s website.
The dividend was approved by board members June 15 and will be payable on or about June 15. All shareholders as of June 30 are eligible for a payment.
“We are pleased to be increasing our quarterly dividend,” said David Brager, CVB Financial’s chief executive officer, in the statement. “We believe this higher dividend, combined with our common stock repurchase plan, demonstrates our commitment to provide strong returns to our shareholders.”
CVBF has approximately $17 billion in assets and is one of the 10 largest bank holding companies based in California. Citizens Business Bank has 60 banking centers and three trust offices throughout the Inland Empire, Los Angeles, Orange, San Diego, Ventura and San Bernardino counties and Central California.