Northwest Bancshares Increases Dividend by 19% to $0.16

Northwest Bancshares, Inc. (Nasdaq: NWBI) announced net income for the quarter ended December 31, 2011 of $15.2 million, or $0.16 per diluted share. This represents an increase of $2.5 million, or 19.1%, over the same quarter last year when net income was $12.7 million, or $0.12 per diluted share, and a decrease of $1.5 million compared to the quarter ended September 30, 2011 when net income was $16.7 million, or $0.17 per diluted share. The annualized returns on average shareholders' equity and average assets for the current quarter were 5.23% and 0.76% compared to 3.90% and 0.63% for the same quarter last year and 5.62% and 0.83% for the quarter ended September 30, 2011.

The Company also announced that its Board of Directors declared a quarterly cash dividend of $0.12 per share, an increase of $0.01 per share, or 9.1%, payable on February 16, 2012, to shareholders of record as of February 2, 2012. This represents the 69th consecutive quarter in which the Company has paid a cash dividend.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.