Hoquiam, Wash.-based Timberland Bancorp Inc. increased the company's dividend to 11 cents per share from the previous dividend of 9 cents per share, per SNL data.

The dividend is payable Feb. 27 to shareholders of record as of Feb. 13.

The company reported net income for the quarter ended Dec. 31, 2016, of $3.1 million, or 43 cents per diluted share, compared to $2.7 million, or 38 cents per diluted share, for the preceding quarter, and $2.5 million, or 36 cents per diluted share, for the quarter ended Dec. 31, 2015.