NEW YORK -- Fueled by higher earnings, Barnett Banks Inc. and First of America Bank Corp. have raised their dividends on common shares.

Barnett, based in Jacksonville, Fla., boosted its quarterly payout by 3 cents, or 9%, to 36 cents, payable July 1 to shareholders of record on June 7. The rate had held at 33 cents since July 1990.

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