City Holding Company, “the Company” (NASDAQ: CHCO), a $4.0 billion bank holding company headquartered in Charleston, declared Wednesday a dividend of 44 cents per common share for shareholders of record as of Apr. 14.

The dividend is payable on Apr. 28. The dividend represents a 2.3 percent increase from the 43 cents per share cash dividend paid in the fourth quarter of 2016.

“I am very pleased with the Board’s decision to once again increase the quarterly cash dividend,” stated Charles (Skip) Hageboeck, president and CEO. “This increase reaffirms the Company’s commitment of returning value to its shareholders. The decision to increase the dividend to $1.76 on an annualized basis is based on the Company’s current strong capital and liquidity position, our outstanding financial performance during 2016, and our confidence in the Company’s ability to sustain this performance.”

City Holding Company is the parent company of City National Bank of West Virginia. City National operates 85 branches across West Virginia, Virginia, Kentucky, and Ohio. The Company’s stock is traded on the NASDAQ Global Select Market under the quotation symbol “CHCO.”