Washington Mutual (WM) announced another 1 cent increase in its quarterly dividend. WM has increased its quarterly dividend by 1 cent in each quarter since the 3rd quarter of 2000. The second quarter dividend increases to 55 cents per share versus 51 cents per share in the same quarter last year. The payout ratio increases to 58% based on 2007 estimated earnings of $3.79. The payout ratio in 2002 was only 27%.