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WESTERLY, R.I. - Washington Trust Bancorp, Inc. (NASDAQ:WASH), a $536 million market cap regional bank, announced Thursday that its Board of Directors has declared a quarterly dividend of 56 cents per share for the quarter ending June 30, 2025. The dividend represents an attractive 8% yield, reflecting the company’s 42-year track record of consistent dividend payments.
The dividend will be paid on July 11, 2025, to shareholders of record as of July 1, 2025, according to a press release statement from the company. InvestingPro analysis indicates that while the company faces current profitability challenges, analysts expect a return to profitability this year. For deeper dividend analysis and more insights, subscribers can access the comprehensive Pro Research Report, which covers what really matters for dividend investors.
Washington Trust Bancorp is the holding company of The Washington Trust Company, which has $6.6 billion in assets as of March 31, 2025. The bank operates across Rhode Island, Connecticut, and Massachusetts, offering commercial banking, mortgage banking, personal banking, and wealth management services.
Founded in 1800, Washington Trust is recognized as the oldest community bank in the nation and is the largest state-chartered bank headquartered in Rhode Island. The company’s stock trades on the Nasdaq exchange under the ticker symbol WASH.
The bank is a member of the Federal Deposit Insurance Corporation (FDIC) and is an equal housing lender.
In other recent news, Washington Trust Bancorp reported its financial results for the first quarter of 2025, revealing a slight miss on earnings per share (EPS), which came in at $0.61, below the expected $0.64. However, the company exceeded revenue expectations, reporting $59.07 million against a forecast of $50.2 million. This mixed performance was bolstered by an 11% increase in net interest income from the previous quarter. Additionally, Washington Trust announced a new stock repurchase program, authorized to buy back up to 850,000 shares, representing approximately 4.4% of its outstanding common stock. The program, set to begin in May 2025, is part of the company’s capital management strategy to enhance shareholder value. Meanwhile, analysts at Keefe, Bruyette & Woods maintained a Market Perform rating with a price target of $31.00, while BofA Securities initiated coverage with a Neutral rating and a $28.00 price target. Furthermore, the company disclosed the election of three directors and ratified the appointment of an independent auditor during its recent annual meeting. These developments highlight Washington Trust’s ongoing strategic initiatives and financial maneuvers aimed at strengthening its position in the market.
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