Norwood Financial Corp Increases Cash Dividend From $0.29 To $0.30 Per Share
Portfolio Pulse from Benzinga Newsdesk
Norwood Financial Corp (NWFL) has increased its quarterly cash dividend from $0.29 to $0.30 per share, marking a 3.5% increase and the thirty-second consecutive year of dividend increases. The dividend is payable on February 1, 2024, to shareholders of record as of January 12, 2024. The company's financial strength and solid performance are cited as reasons for the increase. NWFL operates through its subsidiary, Wayne Bank, with assets of $2.180 billion and stockholders' equity of $164.7 million as of September 30, 2023.
December 14, 2023 | 1:19 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Norwood Financial Corp has announced an increase in its quarterly cash dividend from $0.29 to $0.30 per share, reflecting a 3.5% increase and demonstrating the company's financial strength and consistent performance.
Dividend increases are typically seen as a positive signal about a company's financial health and future prospects. This can attract income-focused investors and potentially boost the stock price in the short term. Given that this marks the thirty-second consecutive year of dividend increases, it reinforces investor confidence in NWFL's commitment to shareholder returns.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100