The board of Seattle-based Washington Federal Inc. declared a quarterly cash dividend of 20 cents per share, representing an increase of 2 cents from the previous regular payout of 18 cents per share.

The dividend will be paid Feb. 22 to common stockholders of record as of Feb. 8.

The board also increased the number of shares authorized under the buyback program by 10 million, bringing the total authorized shares up for repurchase to 10.3 million.