Stifel Financial raised its cash dividend by 17%, marking its third-straight year raising its payout to shareholders.
The financial services company late Wednesday raised its cash payout on common stock to 42 cents a share from 36 cents a share.
The new payout, equal to $1.68 a year, represents an annual yield of 2.2% based on the Wednesday closing price of $74.71.
The dividend is payable March 15 to shareholders of record as of March 1.
The company last raised its common stock dividend a year ago, when it raised the payout 20%.