Camden National (CAC) Raises Quarterly Dividend 8.7% to $0.25, 2.3% Yield; Provides Outlook on Tax-Bill Impact

Camden National (NASDAQ: CAC) declared a quarterly dividend of $0.25 per share, or $1 annualized. This is an 8.7% increase from the prior dividend of $0.23.

The dividend will be payable on January 31, 2018, to stockholders of record on January 15, 2018, with an ex-dividend date of January 11, 2018.

The annual yield on the dividend is 2.3 percent.

"Our strong financial performance has resulted in a solid capital base which allows for a 9% increase in our quarterly dividend rate and provides flexibility in the future," said Dufour. "We believe that our capital is also sufficient to absorb a write down of our deferred tax assets should current tax reform plans be adopted."

Tax-Bill Impact

The Company currently estimates, based on September 30, 2017 financial data, that for every 1% decrease in the Federal corporate income tax rate, diluted earnings per share will decrease $0.06 - $0.08 per share. This is the result of a one-time capital charge related to the revaluation of its deferred tax assets once tax reform is passed. The Company's actual results may vary materially from the estimate due to uncertainties in this preliminary information.

For a dividend history and other dividend-related data on Camden National (CAC) click here.

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