Norwood Financial Corp Declares Increased Cash Dividend for Shareholders
In recent news, Norwood Financial Corp (NASDAQ: NWFL), headed by President and CEO James O. Donnelly, has made an important announcement regarding shareholder dividends. The Board of Directors has approved a cash dividend of $0.31 per share. This increase over prior dividends signals a continued commitment to rewarding shareholders. The payout is set for February 1 to stockholders on record by January 15.
Dividend Increase Highlights Financial Health
The revised dividend represents a $0.01 increase from the previous quarter's distribution, showcasing a 3.33% rise compared to the same period last year. Mr. Donnelly expressed his satisfaction with this decision, stating that it reflects the company’s robust financial position and strong capital base, which have been pivotal in their exceptional performance.
About Norwood Financial Corporation
Norwood Financial Corp operates through its wholly-owned subsidiary, Wayne Bank. This institution has a significant presence in the communities it serves, boasting fifteen branches in Northeastern Pennsylvania and fourteen locations in parts of New York, including Sullivan, Ontario, Otsego, and Yates Counties. As of the close of the last quarter, the company reported impressive total assets of $2.3 billion, with outstanding loans amounting to $1.7 billion. Additionally, total deposits reached $1.9 billion, underscoring its stability and growth in the competitive banking landscape.
Contact Information for Inquiries
For those seeking more information about Norwood Financial Corp, John M. McCaffery, the Executive Vice President and Chief Financial Officer, is available for inquiries. He can be reached at (272) 304-3003. For more details about Wayne Bank’s services, potential customers can visit their official website.
Frequently Asked Questions
What is the declared dividend amount by Norwood Financial Corp?
The Board has declared a cash dividend of $0.31 per share.
When will the dividend be paid?
The cash dividend is scheduled to be payable on February 1, 2025.
Who is eligible to receive the dividend?
Stockholders of record as of January 15, 2025, will be eligible for the dividend payment.
What has contributed to this increase in dividends?
This increase is attributed to the company’s strong capital position and solid financial performance.
How can I contact Norwood Financial Corp for more information?
Inquiries can be directed to John M. McCaffery at (272) 304-3003, or by visiting their website for detailed information.
