U.S. Markets open in 5 hrs 10 mins

Fifth Third boosts quarterly dividend to 12 cents

CINCINNATI (AP) -- Fifth Third Bancorp on Tuesday boosted its common stock cash dividend by 1 cent, or 9 percent, to 12 cents.

The second-quarter dividend will be paid July 18 to shareholders of record as of June 28, Fifth Third said.

The Cincinnati-based bank said the dividend is consistent with plans it previously submitted to the Federal Reserve.

Fifth Third shares rose 10 cents to $18.39 in afternoon trading. Its shares are near the high end of their 52-week range of $12.69 last June and $18.74 on May 30.