Guaranty Bancorp boosts dividend 30% to yield well above its peer group

Guaranty Bancorp said Tuesday it was raising its quarterly dividend by 30% to 16.25 cents a share from 12.5 cents a share. The new dividend will be payable March 2 to shareholders of record on Feb. 23. The stock rose 0.4% in afternoon trade, after being down as much as 0.9% earlier in the session. At current share prices, the new annual dividend rate implies a dividend yield of 2.33%, compared with the SPDR S&P Regional Banking ETF’s yield of 1.36% and the S&P 500’s implied yield of 1.91%, according to FactSet. Guaranty Bancorp’s stock has tacked on 1.5% over the past three months, whle the regional banking ETF has surged 10.0% and the S&P 500 has gained 5.1%.

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