First Bancorp (FNLC) Raises Quarterly Dividend 20.8% to $0.29; 4.1% Yield

First Bancorp (NASDAQ: FNLC) declared a quarterly dividend of $0.29 per share, or $1.16 annualized. This is a 20.8% increase from the prior dividend of $0.24.

The dividend will be payable on July 31, 2018, to stockholders of record on July 9, 2018, with an ex-dividend date of July 6, 2018.

The annual yield on the dividend is 4.1 percent.

“Our strong performance in 2018 continued as growth on both sides of the balance sheet led to record operating results being reported for the first quarter of 2018,” noted President & Chief Executive Officer, Tony C. McKim. “The passage of tax reform in late 2017 has provided an opportunity for the Company to further enhance its already healthy dividend level. The Board of Directors views a generous dividend payout as a key component in the total valuation of our shares, and I am pleased to announce a 21% increase in cash dividends payable to our shareholders.”

For a dividend history and other dividend-related data on First Bancorp (FNLC) click here.

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