RICHMOND, Va. - Signet Banking Corp. declared a dividend of 25 cents, 25% higher than the 20-cent dividend it paid Aug. 25.

The company said the higher dividend is payable Nov. 24 to shareholders of record Nov. 3.

Signet said the boost reflects "our company's superior financial performance, improved asset quality, and capital strength."

The company said the 5-cent boost is the third such increase in the past 12 months.

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