Northeast Indiana Bancorp Boosts Dividend for Shareholders Again
Northeast Indiana Bancorp Increases Quarterly Cash Dividend
The Board of Directors of Northeast Indiana Bancorp, Inc. (OTCQB: NIDB) has proudly announced an increase in the cash dividend for shareholders, marking the corporation's 31st consecutive year of rewarding its investors. This remarkable achievement reflects the company's sustained financial performance and commitment to returning value to its shareholders.
Dividend Details and Increases
The newly established cash dividend will be set at $0.19 per common share per quarter. This represents a significant $0.01 increase per share, translating to a 5.56% rise over the previous dividend amount. President and CEO Michael S. Zahn expressed his satisfaction in announcing this increase, emphasizing the company's strong capital levels and ongoing robust financial performance.
Upcoming Payment Schedule
This quarterly cash dividend is scheduled to be paid on a future date to shareholders who are on record as of another specified date. Such timing ensures that shareholders are recognized for their continued support and investment. By offering a competitive annualized dividend yield of 3.80%, based on the last reported trade price of $20.00 per common share, the company continues to demonstrate its financial resilience and commitment to shareholder value.
Company Overview and Operations
Northeast Indiana Bancorp, Inc., the parent company of First Federal Savings Bank, operates with a mission to provide a comprehensive range of banking and financial brokerage services. The company, located in a central area, offers these services through various full-service offices equipped to meet the diverse needs of its customers. With a focus on community engagement, Northeast Indiana Bancorp plays a vital role in the financial landscape.
Shareholder Confidence and Market Position
With 2,376,066 shares outstanding and a current book value of $22.37 per common share, the company remains a strong player in the market. Shareholder confidence is further validated by the continuous increase in dividends, indicating robust operational performance and financial health. This strategic commitment to enhancing shareholder returns is expected to contribute positively to the company's market reputation.
Frequently Asked Questions
What is the new dividend amount for shareholders?
The new dividend amount is $0.19 per common share per quarter.
How long has Northeast Indiana Bancorp been increasing its dividend?
The company has been increasing its dividend for 31 consecutive years.
What is the annualized dividend yield based on the recent share price?
The recent annualized dividend yield is 3.80%, based on a share price of $20.00.
How many shares are currently outstanding for NIDB?
There are currently 2,376,066 shares outstanding for Northeast Indiana Bancorp, Inc.
Where can I find more information about Northeast Indiana Bancorp?
You can find more information about Northeast Indiana Bancorp, Inc. on their official company website.
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