National Penn Announces Quarterly Cash Dividend Increase from $0.05 to $0.07; National Penn Announces Quarterly Cash Dividend Increase
National Penn Bancshares, Inc. (Nasdaq: NPBC) announced today that its Board of Directors has increased the second quarter cash dividend to seven cents per common share from five cents per common share. The dividend is payable to shareholders of record as of May 5, 2012 and will be paid May 17, 2012.
Additionally, the Board of Directors authorized the repurchase of up to 7.5 million shares of National Penn's common stock throughout 2012. This represents approximately five percent (5%) of the total number of shares outstanding.
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