NewtekOne, Inc. Announces that Its Bank Subsidiary, Newtek Bank, N.A., Has Declared A Dividend Of $2M Payable To NewtekOne, Inc.
Portfolio Pulse from Happy Mohamed
NewtekOne, Inc. (NASDAQ:NEWT) announced that its bank subsidiary, Newtek Bank, N.A., has declared a dividend of $2.0 million, payable to NewtekOne. The dividend declaration comes after Newtek Bank's swift ascension to profitability for the six months ended June 30, 2023, following its acquisition by NewtekOne on January 6, 2023.
August 21, 2023 | 12:56 pm
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NewtekOne's bank subsidiary, Newtek Bank, has declared a $2M dividend payable to NewtekOne. This follows Newtek Bank's rapid rise to profitability after being acquired by NewtekOne.
The declaration of a dividend by Newtek Bank, a subsidiary of NewtekOne, indicates a positive financial performance. This is likely to be viewed favorably by investors, potentially leading to an increase in the stock price of NewtekOne in the short term.
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