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Meridian Bancorp board intends to increase quarterly dividend

Meridian Bancorp Inc.'s board intends to declare an increase in the quarterly cash dividend by 1 cent per share to 8 cents per share in the fourth quarter.

The company also reported net income of $19.7 million, or 38 cents per share, for the third quarter, compared to $17.4 million, or 33 cents per share, for the year-ago period.