Bar Harbor Bankshares Increases Quarterly Cash Dividend From $0.28 To $0.30 Per Share
Portfolio Pulse from Benzinga Newsdesk
Bar Harbor Bankshares (BHB) announced an increase in its quarterly cash dividend from $0.28 to $0.30 per share, payable on June 14, 2024, to shareholders of record as of May 16, 2024. This represents a 4.53% annualized yield based on the closing share price on March 28, 2024. Additionally, BHB's Board authorized a share repurchase plan of up to 5% of its outstanding common stock, approximately 761,000 shares, to be executed over the next twelve months.
April 18, 2024 | 8:31 pm
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Bar Harbor Bankshares increases its quarterly dividend to $0.30 per share and authorizes a share repurchase plan for up to 5% of its outstanding shares.
Increasing dividends typically signals confidence in the company's financial health and future prospects, likely attracting income-focused investors and potentially boosting the stock price. The share repurchase plan can also be seen as a positive signal, suggesting the company believes its stock is undervalued and aiming to return value to shareholders, which could further support the stock price.
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