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Territorial Savings Bank’s parent company has declared its second special cash dividend of the year to go along with its four regular quarterly payouts.
The latest special cash dividend of 30 cents a share will be payable Dec. 20 to shareholders of record as of Dec. 6. Territorial Bancorp Inc. also paid a 10-cents-a-share special dividend in July.
Territorial has now paid eight special dividends since going public in July 2009 in addition to its quarterly dividends. The 40 cents a share in special dividends in 2017 is double the 20 cents a share in special dividends that the bank paid in 2016.
“2017 has been a good year for the company,” Territorial Chairman and CEO Allan Kitagawa said. “We wish to show our appreciation to our shareholders for continuing their support and confidence in the company.”
30-year mortgage rate increases to 3.95%
Long-term mortgage rates rose this week to the highest level in months.
Mortgage giant Freddie Mac says the rate on benchmark 30-year, fixed-rate mortgages hit 3.95 percent, up from 3.90 percent last week and highest since July. A year ago it stood at 3.94 percent. The rate on 15-year home loans climbed to an average 3.31 percent, highest since April and up from 3.24 percent last week and 3.14 percent a year ago.
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ON THE MOVE
First Hawaiian Bank has announced the following new hires and promotions:
>> Daniel Nishikawa is FHB’s new senior vice president and division manager of the Commercial Real Estate Division. Nishikawa has more than 30 years in commercial real estate, including extensive experience in development, construction and banking.
>> Gregory Hester is FHB’s new senior vice president and Information Technology Division manager. Hester has 22 years of information technology industry experience and previously served as vice president and chief technology officer at HMSA.
>> Scott Davis has been appointed vice president and Business Services Sales Department manager. Davis has 25 years’ experience in corporate sales leadership and financial services.
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