Northrim BanCorp (NRIM) Raises Quarterly Dividend 11.1% to $0.30; 3.2% Yield
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Northrim BanCorp (NASDAQ: NRIM) declared a quarterly dividend of $0.30 per share, or $1.2 annualized. This is an 11.1% increase from the prior dividend of $0.27.
The dividend will be payable on March 22, 2019, to stockholders of record on March 14, 2019, with an ex-dividend date of March 13, 2019.
The annual yield on the dividend is 3.2 percent.
“This dividend reflects a 42% pay-out ratio based on our 2018 profits of $2.86 per share and is the tenth consecutive year of increasing dividend payments. We believe regular and increasing dividends are an important component of building shareholder value,” said Joe Schierhorn, President and CEO. At the stock price of $39.01 per share at the close of the market on February 27, 2019, the current dividend equates to a yield of 3.08% on an annualized basis.
For a dividend history and other dividend-related data on Northrim BanCorp (NRIM) click here.
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