The Dynamic Dividend

Pacific Continental Begins Dividend Recovery

Pacific Continental Corporation (PCBK) declared a quarterly dividend of $0.03 per share today, tripling the $0.01 paid each of the seven quarters since the bank holding company slashed its payout by 90% in 2009.

The parent company of Pacific Continental Bank began paying a dividend in 2000, and grew it each of the next eight years, eventually pushing its quarterly payout to a peak of $0.10 per share in 2008. But the company spent 2009 hacking it all the way down to $0.01 per share, which is where it stood until today’s announcement.

Shares of PCBK are currently trading at $8.23, where they now carry a 1.46% dividend yield.