Northrim BanCorp (NRIM) Raises Quarterly Dividend 12.5% to $0.27; 2.4% Yield

August 24, 2018 9:01 AM EDT

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Northrim BanCorp (NASDAQ: NRIM) declared a quarterly dividend of $0.27 per share, or $1.08 annualized. This is a 12.5% increase from the prior dividend of $0.24.

The dividend will be payable on September 14, 2018, to stockholders of record on September 6, 2018, with an ex-dividend date of September 5, 2018.

The annual yield on the dividend is 2.4 percent.

“We are positioned to benefit from rising interest rates and lower tax costs, which is contributing to our profitability and our ability to increase our dividend to shareholders. In addition, the improved price stability for natural resources bodes well for the Alaska economy and the Northrim banking franchise,” said Joe Schierhorn, President and CEO. At the stock price of $44.25 per share at the close of the market on August 23, 2018, the current dividend equates to a yield of 2.44% on an annualized basis.

For a dividend history and other dividend-related data on Northrim BanCorp (NRIM) click here.

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