Cadence Bancorporation CADE has increased its quarterly dividend. The company announced a dividend per share of 15.8 cents, representing a hike of 5.3% from the prior payout. The dividend will be paid out on Oct 22 to shareholders of record as of Oct 18.Based on last day’s closing price, the dividend yield currently stands at 2.77%.The company also has a share buyback plan in place. On Jan 21, 2021, its board of directors authorized a share repurchase program to buy back shares worth up to $200 million.The plan was, however, put on hold until Cadence Bancorporation and BancorpSouth Bank BXS received shareholder approval for their pending all-stock merger deal.In April, the companies entered a merger agreement (expected to close on the fourth quarter of 2021), which will create a leading Texas and Southeastern regional bank. Post completion, the combined entity will operate under the name and brand of Cadence, with two headquarters in Tupelo, MS, and Houston, TX.The deal is anticipated to result in long-term financial benefits for both firms and, hence, seems attractive for shareholders. Moreover, Cadence Bancorporation will likely keep enhancing shareholder value through efficient capital deployment activities.Dividend Hikes by Other Finance CompaniesIn September, several finance companies raised their quarterly dividends.JPMorgan JPM announced a dividend of $1 per share, representing a hike of 11.1% from the prior payout. The dividend will be paid out on Oct 31 to shareholders of record as of Oct 6.Equity Bancshares, Inc. EQBK announced a dividend for the first time. The company’s board of directors approved a quarterly cash dividend of 8 cents per share. The dividend will be paid out on Oct 14 to shareholders of record as of Sep 30. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report BancorpSouth Bank (BXS): Free Stock Analysis Report Cadence Bancorp (CADE): Free Stock Analysis Report Equity Bancshares, Inc. (EQBK): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research