Unity Bancorp Boosts Dividend to $0.15 Per Share, Up 7.1%

Unity Bancorp has raised its quarterly dividend to $0.15/share, a 7.1% increase from the previous $0.14. The new dividend represents a forward yield of 1.24%. The dividend is payable on September 19 for shareholders of record on September 5, with an ex-dividend date of September 5.

Unity Bancorp, a New Jersey-based financial institution, has announced a significant increase in its quarterly cash dividend. The company's board of directors approved a 7% hike, raising the dividend to 15 cents per share from the previous 14 cents. This adjustment brings the annual dividend to 60 cents per share, payable on September 19 to shareholders of record as of September 5. The new dividend represents a forward yield of 1.2%, based on the latest closing share price of $48.56.

This is the second consecutive quarterly dividend increase for Unity Bancorp. In February, the company raised its dividend to 14 cents per share from 13 cents. The ex-dividend date for the new dividend is September 5.

Unity Bancorp's dividend growth is a positive sign for investors, reflecting the company's strong financial performance and commitment to shareholder value. The increase in dividends is also a signal of Unity Bancorp's confidence in its future prospects and its ability to generate consistent cash flows.

References:
[1] https://www.marketwatch.com/story/unity-bancorp-raises-quarterly-dividend-by-7-bc6f47f0