Northeast Indiana Bancorp, Inc. Increases Quarterly Cash Dividend

HUNTINGTON, Ind., Oct. 25, 2019 /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 25th year in a row. 

(PRNewsfoto/Northeast Indiana Bancorp, Inc.)

The cash dividend of $0.27 per common share represents a $0.02 per share or 8.0% increase over the Company's previous quarterly dividend.  President and CEO Michael S. Zahn stated, "We are pleased to reward our shareholders with our 25th consecutive year of increasing our cash dividend.  Due to our continued strong financial performance and capital levels, the Board of Directors feels the dividend increase is warranted."  The dividend will be payable on November 21, 2019 to shareholders of record on November 7, 2019.  This makes an annualized dividend yield of 2.6% based on a closing price of $41.50 per common share, which was the last reported trade on October 24, 2019.

The book value of NIDB's stock was $34.28 per common share as of September 30, 2019 with 1,206,327 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.bank.

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/northeast-indiana-bancorp-inc-increases-quarterly-cash-dividend-300945562.html

SOURCE Northeast Indiana Bancorp, Inc.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Ex-Date
ticker
name
Dividend
Yield
Announced
Record
Payable
Posted In: DividendsSmall CapPress ReleasesBanking/Financial Services
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!