Northwest Bancshares (NWBI) Declares $0.17 Quarterly Dividend; 3.8% Yield

Northwest Bancshares (NASDAQ: NWBI) declared a quarterly dividend of $0.17 per share, or $0.68 annualized.

The dividend will be payable on August 16, 2018, to stockholders of record on August 2, 2018, with an ex-dividend date of August 1, 2018.

The annual yield on the dividend is 3.8 percent.

In making this announcement, Ronald J. Seiffert, President and CEO, noted, "We are very pleased with the positive momentum established in the first half of this year. We remained disciplined in our loan growth of approximately $150 million, or nearly 2%, all funded with organic increases in checking and savings accounts. Expense reductions of almost $8 million, or over 5% from the prior year, were realized from the efficiency initiatives implemented during the past two years. In addition, we were able to maintain a stable net interest rate spread and margin despite the continued flattening of the yield curve. Finally, with the June announcement of our merger with Donegal Financial Services Corporation and Union Community Bank, scheduled to close in the first quarter of 2019, we are looking forward to the meaningful impact that the employees and this franchise will have on Northwest going into next year."

For a dividend history and other dividend-related data on Northwest Bancshares (NWBI) click here.

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