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Territorial Savings declares special dividend

By Dave Segal

LAST UPDATED: 1:12 p.m. HST, Nov 25, 2013

Territorial Bancorp Inc. has declared its second special dividend in two years in addition to the regular quarterly dividends it has been paying.

The parent of Territorial Savings Bank said today it will pay a special dividend of 10 cents a share on Dec. 23 to shareholders of record as of Dec. 9. Last month, the bank increased its quarterly dividend by a penny to 14 cents a share and will pay it to eligible shareholders on Wednesday.

A year ago, Territorial also paid a special dividend of 10 cents a share.

The state's fifth-largest bank has raised its dividend six times in just over two years in addition to the two special dividends it has paid out.

Its stock rose 18 cents Monday to close at $23 on the Nasdaq stock market.

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