First Connecticut Bancorp Inc. is paying a quarterly dividend of 16 cents per share, up from the previous 15 cents.

The payout is March 19 to shareholders of record as of March 9.

First Connecticut is the Farmington, Conn.-based holding company of Farmington Bank, which had $3.05 billion in assets at the end of 2017. The company will hold its annual shareholder meeting May 9.