Territorial Bancorp Inc. declared Wednesday a special midyear cash dividend of 10 cents a share that will be payable on July 25 to shareholders of record as of July 11.

This will be the eighth special dividend that the parent of Territorial Savings Bank will be paying out since going public in July 2009. The bank also pays quarterly dividends as well.

“Our strong performance in 2018 allows us to pay a special dividend,” Territorial Chairman and CEO Allan Kitagawa said. “Including this special dividend, we will have paid out (50 cents a share) in dividends for the first half of 2018.”

Territorial also has paid out regular quarterly dividends of 20 cents a share earlier this year.

Territorial’s stock closed down 53 cents at $31.32 Wednesday in what was a down day for local banks.