Unity Bancorp Increases Quarterly Dividend to $0.17 a Share
Unity Bancorp increased its quarterly dividend by 6.3% to $0.17 per share from $0.16. The bank says it has raised its dividend annually for 12 straight years. Analysts project EPS of $6.35 next year, implying the $0.64 annual dividend is covered with a 10.1% expected payout ratio, after the latest quarter’s $1.42 EPS versus $1.44 consensus.