Local companies report increased dividends

By Michael Souza
PBN Staff Writer

ROCKLAND, Mass. - The Independent Bank Corp. board of directors, has announced a $0.21 per share dividend which will be payable on April 5, to stockholders of record as of the close of business on March 26. Independent Bank Corp. is the parent of the Rockland Trust Company. The dividend represents growth of 11 percent, or 2 cents more than the prior quarter’s dividend of 19 cents.

“A double-digit percentage increase in our dividend is another testament to the strength and stability of Independent Bank Corp.,” said Christopher Oddleifson, president and chief executive officer of Independent Bank Corp. and Rockland Trust Company. “Our ability to generate capital growth through core earnings allows us to continue returning value to shareholders.”

Independent Bank Corp., the parent of Rockland Trust Co., currently has approximately $5 billion in assets

In Westerly, the board of directors of Washington Trust Bancorp Inc., declared a quarterly dividend of 23 cents per share for the quarter ending March 31. The dividend will be paid on April 13, 2012 to shareholders of record on March 30. The dividend is a one-cent increase over the amount paid in each of the previous four quarters.

Washington Trust Chairman, President and CEO Joseph J. MarcAurele, was please with the bank’s performance. “We are committed to increasing shareholder value by expanding our banking network and offering the best financial services in southeastern New England,” he said.