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 November 23, 2018, to stockholders of record on November 9, 2018, with an ex-dividend date of November 8, 2018.

The annual yield on the dividend is 0.2 percent.

“We started fiscal 2019 with a solid first quarter,” said Richard Wayne, President and Chief Executive Officer. “For the quarter, we earned $0.49 per diluted common share, a return on equity of 12.8%, and a return on assets of 1.5%, while keeping our operating expenses in check with an efficiency ratio of 58.8%. Our Loan Acquisition and Servicing Group produced $105.9 million of loans, including originations of $71.1 million and purchases with a recorded investment of $34.8 million during the quarter. This represents quarterly net growth in the LASG portfolio of $20.0 million, or 2.9%.”

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

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