Independent Bank's last quarterly dividend of $0.55 per share was on Dec 23, 2022 (ex-date). The annualized dividend payment of $2.08 per share represents a current dividend yield of 2.68%. The latest INDB payout of $0.55 marks a dividend growth of 8%.
Independent Bank's dividend yield of 2.68% is lower than the Financial Services sector, the industry and its peers average. But if we consider the Financial Services sector average of 2.72%, Independent Bank's dividend yield is only 1.5% lower. The current dividend yield is more than the historical average of 2.4% of the last 5 years.
Independent Bank has a history of paying dividends since 1994. Our records of INDB show that the company has issued four quarterly dividends in the last twelve months. The annualized DPS marks an increase of 8% since one year ago. And with the stock price down by 6% from a year ago, the dividend yield marks an increase of 16%.
| Ex-date | Payment date | Declared on | Amount | Type |
|---|---|---|---|---|
| Dec 23, 2022 | Jan 6, 2023 | Dec 8, 2022 | $0.55 | normal |
| Sep 23, 2022 | Oct 7, 2022 | Sep 15, 2022 | $0.51 | normal |
| Jun 24, 2022 | Jul 8, 2022 | Jun 16, 2022 | $0.51 | normal |
| Mar 25, 2022 | Apr 8, 2022 | Mar 17, 2022 | $0.51 | normal |
| Dec 23, 2021 | Jan 7, 2022 | Dec 9, 2021 | $0.48 | normal |
| Sep 24, 2021 | Oct 8, 2021 | Sep 16, 2021 | $0.48 | normal |
| Jun 25, 2021 | Jul 9, 2021 | Jun 17, 2021 | $0.48 | normal |
| Mar 26, 2021 | Apr 9, 2021 | Mar 18, 2021 | $0.48 | normal |
| Dec 24, 2020 | Jan 8, 2021 | Dec 10, 2020 | $0.46 | normal |
| Sep 25, 2020 | Oct 9, 2020 | Sep 17, 2020 | $0.46 | normal |
| Jun 26, 2020 | Jul 10, 2020 | Jun 18, 2020 | $0.46 | normal |
| Mar 27, 2020 | Apr 9, 2020 | Mar 19, 2020 | $0.46 | normal |
| Dec 27, 2019 | Jan 10, 2020 | Dec 12, 2019 | $0.44 | normal |
| Sep 27, 2019 | Oct 11, 2019 | Sep 19, 2019 | $0.44 | normal |
| Jun 28, 2019 | Jul 12, 2019 | Jun 20, 2019 | $0.44 | normal |
| Mar 22, 2019 | Apr 5, 2019 | Mar 13, 2019 | $0.44 | normal |
| Dec 28, 2018 | Jan 11, 2019 | Dec 13, 2018 | $0.38 | normal |
| Sep 28, 2018 | Oct 5, 2018 | Sep 20, 2018 | $0.38 | normal |
| Jun 29, 2018 | Jul 10, 2018 | Jun 21, 2018 | $0.38 | normal |
| Mar 23, 2018 | Apr 6, 2018 | Mar 15, 2018 | $0.38 | normal |
| Dec 22, 2017 | Jan 5, 2018 | Dec 14, 2017 | $0.32 | normal |
| Sep 29, 2017 | Oct 6, 2017 | Sep 22, 2017 | $0.32 | normal |
| Jun 22, 2017 | Jul 7, 2017 | Jun 15, 2017 | $0.32 | normal |
| Mar 23, 2017 | Apr 7, 2017 | Mar 16, 2017 | $0.32 | normal |
| Dec 21, 2016 | Jan 6, 2017 | Dec 8, 2016 | $0.29 | normal |
| Sep 22, 2016 | Oct 7, 2016 | Sep 15, 2016 | $0.29 | normal |
| Jun 23, 2016 | Jul 8, 2016 | Jun 16, 2016 | $0.29 | normal |
| Mar 23, 2016 | Apr 8, 2016 | Mar 17, 2016 | $0.29 | normal |
Independent Bank's payout ratio of 53.7% is above the Financial Services sector, the industry and its peers average. Compared to its Financial Services sector average of 31.1%, Independent Bank's payout ratio is 73% higher.
| Name | Dividend yield | DPS | Payout ratio |
|---|---|---|---|
| UNB Union Bankshares Inc | 5.26% | $1.41 | 50.4% |
| WASH Washington Trust Bancorp Inc | 5.21% | $2.18 | 50.2% |
| BRKL Brookline Bancorp Inc | 4.02% | $0.52 | 36.9% |
| BHB Bar Harbor Bankshares | 3.36% | $1.02 | 37.4% |
| WBS Webster Financial Corp | 3.15% | $1.6 | 47.5% |
| INDB Independent Bank Corp | 2.68% | $2.08 | 53.7% |
Yes, Independent Bank has paid four dividends in the last 12 months. INDB has been paying dividends since 1994.
INDB hasn't announced its next dividend date yet, however if we take into account its recent dividend frequency, it is likely that its next dividend will be in March 2023.
Independent Bank's last regular dividend was on Dec 23, 2022 (ex-date) with the amount of $0.55 per share.
On an annual basis INDB pays $2.08 per share.
The current dividend yield of Independent Bank is 2.68%.
Independent Bank pays four dividends per year.
The dividend payout ratio of Independent Bank is 53.7%.
Independent Bank's dividend yield is in line with the Financial Services sector average.