Goldman Sachs Boosts Quarterly Dividend by 11% to $5.00

Goldman Sachs has increased its quarterly dividend by 11% to $5.00 per share, pushing the annualized forward rate to $20.00.

This represents a 25% increase year over year and is part of the bank's strategy to sustainably grow its dividend.

The dividend payout is well covered, with trailing diluted earnings per share standing at $65.88 compared to just $18.00 in dividends paid per share.

Chairman and CEO David Solomon noted that the per-share payout has climbed 150% over five years, and a shrinking share count makes each future per-share raise easier to fund.