Northeast Indiana Bancorp, Inc. Increases Quarterly Cash Dividend
HUNTINGTON, Ind., Oct. 24, 2012 /PRNewswire/ -- The Board of Directors of Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, is proud to announce the Corporation has increased the cash dividend paid to shareholders for the 18th year in row.
The cash dividend of $0.19 per common share represents a 5.6% increase over the Company's previous quarterly dividend. President and CEO Michael S. Zahn stated, "As we celebrate our 100th year as a community bank, it's exciting to be able to reward our shareholders with an increase in the dividend. We are able to provide a solid return to our shareholders due to the bank's ability to continue to generate strong earnings per share. Dedication from our employees and partnerships with our customers and communities are the foundation to our financial success." The dividend will be payable on November 20, 2012 to shareholders of record on November 6, 2012. This makes an annualized dividend yield of 4.6% based on a closing price of $16.50 per common share, which was the last reported trade on October 23, 2012.
The book value of NIDB's stock was $22.27 per common share as of September 30, 2012, with 1,239,946 shares outstanding. Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana. The company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and five full-service Indiana offices in Huntington (2), Warsaw and Fort Wayne(2). The Company is traded on the OTC Markets Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under the symbol "NIDB". Our web site address is www.firstfedindiana.com.
SOURCE Northeast Indiana Bancorp, Inc.