PRINCETON, N.J. -- UJB Financial Corp. said it increased its quarterly dividend on common shares to 21 cents from 16 cents, a 31% increase.

The dividend will be payable Feb. 1 to shareholders of record Jan. 6.

As reported, the company previously raised its quarterly dividend to 16 cents from 15 cents in March.

The company said the latest increase is a result of "continued improvement in earnings over the past three years."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.