City Holding Co hikes dividend by 8.3%

On September 28, 2022, City Holding Company (CHCO) announced that it will raise its quarterly dividend by 8.3 percent to $0.65 per share. This marks the 11th consecutive year of annual dividend increases by the financial company. The dividend is payable on October 31, 2022. The dividend represents an 8.3% increase from the 60 cents per share cash dividend paid in the second quarter of 2022.

“Our board voted to increase the quarterly cash dividend by 5 cents to 65 cents,” stated Charles (Skip) Hageboeck, President and CEO. “This strong increase reinforces the Company's commitment of returning value to its shareholders. The decision to increase the dividend to $2.60 on an annualized basis is based on the Company's current strong capital and liquidity position, our financial performance during 2022, and our confidence in the Company's ability to sustain this performance.”

City Holding Company is the parent company of City National Bank of West Virginia. City National operates branches across West Virginia, Virginia, Kentucky, and Ohio. City National offers various products and services, including commercial banking, consumer banking, mortgage banking, and wealth management and trust services.