The board of Boston Private Financial Holdings Inc., parent of Boston Private Bank & Trust Co., increased the company's dividend to 11 cents per share from the previous quarter's 10 cents per share.
The dividend is payable Feb. 17 to shareholders of record as of Feb. 3.
The Boston-based company also amended its bylaws regarding majority voting for uncontested director elections. The amended bylaw states that during an uncontested election, a director nominee should get the majority votes of entitled voting shares in the election. An incumbent director nominee who fails to get the majority vote will be required to offer to resign, subject to the board's consideration.
Boston Private Financial disclosed in an earnings release its fourth-quarter 2016 net income attributable to the company of $17.6 million compared to $15.0 million in the year-ago period.