The board of directors at Community Trust Bancorp, Inc. (NASDAQ: CTBI) declared a 22.6% increase in its quarterly cash dividend on July 28, raising the payout from $0.53 per share to $0.65 per share.

The increased dividend is scheduled for payment on October 1, 2026, to shareholders of record as of September 15. Alongside this, the board has also approved a one-time special cash dividend of $0.06 per share, which will be paid on the same date to the same group of shareholders.

Community Trust Bancorp Chairman, President, and CEO Mark Gooch expressed the company's pride in marking its 46th consecutive year of raising cash dividends for shareholders. The new quarterly dividend equates to an annualized payout of $2.60 per share. Based on the closing price of $78.12 on July 28, the annual yield is approximately 3.33%, a notable increase from the previous yield of 2.71%.

Headquartered in Pikeville, Kentucky, Community Trust Bancorp manages assets totaling $7 billion. The institution operates 69 banking locations across eastern, northeastern, central, and south-central Kentucky, with an additional 6 branches in southern West Virginia, and 3 in northeastern Tennessee. It also maintains trust offices in both Kentucky and Tennessee.