FB Financial Corporation (NYSE: FBK) declared a quarterly dividend of $0.08 per share, or $0.32 annualized. This is a 33.3% increase from the prior dividend of $0.06.

The dividend will be payable on November 15, 2018, to stockholders of record on November 1, 2018, with an ex-dividend date of October 31, 2018.

The annual yield on the dividend is 0.9 percent.

Additionally, the Company’s Board of Directors authorized the repurchase of up to $50 million of the Company’s outstanding common stock, which will remain in effect until October 22, 2019.

Christopher T. Holmes, President and Chief Executive Officer, commented, “Our Board of Directors remains focused on continuing to build long-term shareholder value and is pleased to return a portion of capital to our shareholders while maintaining strong capital levels to support continued growth.”

Holmes continued, “We are equally pleased to announce a newly approved share repurchase authorization which provides the Company an additional avenue to opportunistically return capital to our shareholders. Our capital priorities continue to be organic growth and ensuring flexibility to fund acquisitions. This program will enable us to meet these objectives as we seek to continue to drive long-term shareholder value by maximizing earnings per share accretion and minimizing tangible book value dilution.”

For a dividend history and other dividend-related data on FB Financial Corporation (FBK) click here.