GRAND RAPIDS, Mich. - The board of Old Kent Financial Corp. has declared a 3 cent, or 13%, increase in the regular quarterly dividend, to 26 cents a share. The new annual rate is $1.04, up from 92 cents, and is payable Dec. 15 to shareholders of record on Nov. 15.

Old Kent, which has $8.7 billion in assets, also boosted the Sept. 15 quarterly dividend by 11.3%, to 23 cents. And it issued shares in connection with a 3-for-2 split.

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