Huntington Bancshares Inc. said Friday it will raise its quarterly dividend by 38% to 11 cents a share, from 8 cents a share. The Ohio-based bank’s new dividend will be payable Jan. 2, 2018 to shareholders of record on Dec. 18. Based on Thursday’s stock closing price of $13.98, the new annual dividend rate implies a dividend yield of 3.15%, compared with the implied yield for the SPDR S&P Regional Banking ETF of 1.39% and for the S&P 500 of 1.95%. The bank’s stock, which was still inactive in premarket trade, has gained 5.8% year to date through Thursday, while the regional bank ETF has edged up 1.8% and the S&P 500 has climbed 14.4%.
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