Western New England Bancorp, Inc. (WNEB) Declares $0.04 Quarterly Dividend; 1.6% Yield

Western New England Bancorp, Inc. (NASDAQ: WNEB) declared a quarterly dividend of $0.04 per share, or $0.16 annualized.

The dividend will be payable on November 21, 2018, to stockholders of record on November 7, 2018, with an ex-dividend date of November 6, 2018.

The annual yield on the dividend is 1.6 percent.

“We are pleased with the organic loan and deposit growth during the quarter. We remain focused on growing loans while maintaining strong asset quality. Increasing core deposits continues to be a priority as they are particularly valuable as interest rates continue to rise,” stated Westfield Bank President and CEO James C. Hagan. “Although the net interest margin decreased from the second quarter, we continue to adjust the balance sheet to position the Company for a continued rise in interest rates. Over the last nine months, we decreased our average reliance on short-term borrowings by 55% and increased long-term borrowings by 70% in order to manage interest rate risk. We also decreased the low-yielding investment portfolio in order to fund loan growth and pay down high cost borrowings.”

For a dividend history and other dividend-related data on Western New England Bancorp, Inc. (WNEB) click here.

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