Northeast Bancorp (NBN) Declares $0.01 Quarterly Dividend; 0.2% Yield

Northeast Bancorp (NASDAQ: NBN) declared a quarterly dividend of $0.01 per share, or $0.04 annualized.

The dividend will be payable on August 24, 2018, to stockholders of record on August 10, 2018, with an ex-dividend date of August 9, 2018.

The annual yield on the dividend is 0.2 percent.

“We closed the year with a strong quarter,” said Richard Wayne, President and Chief Executive Officer. “For the quarter, we earned $0.48 per diluted common share, a return on equity of 13.0%, a return on assets of 1.5%, and an efficiency ratio of 57.9%. For the fiscal year, we earned $1.77 per diluted common share, compared to $1.38 for the prior fiscal year, representing an increase of 28%. For the quarter, our Loan Acquisition and Servicing Group ("LASG") produced $119.2 million of loans, including originations of $66.6 million and purchases with a recorded investment of $52.6 million. This represents quarterly net growth in the LASG portfolio of $51.6 million, or 8.1%, and annual net growth of $111.4 million, or 19.3%.”

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

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