Northeast Bank Declares Quarterly Dividend of $0.01 (NASDAQ:NBN)

Northeast Bank (NASDAQ:NBN) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Stockholders of record on Monday, May 13th will be paid a dividend of 0.01 per share by the financial services provider on Monday, May 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.07%. The ex-dividend date is Friday, May 10th.

Northeast Bank has a payout ratio of 0.6% indicating that its dividend is sufficiently covered by earnings.

Northeast Bank Stock Up 1.1 %

Shares of NBN opened at $54.61 on Thursday. The stock has a 50 day moving average of $53.11 and a 200 day moving average of $52.86. Northeast Bank has a 12 month low of $35.62 and a 12 month high of $59.00.

Northeast Bank (NASDAQ:NBN) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.11. The business had revenue of $66.03 million for the quarter, compared to analysts’ expectations of $36.34 million. During the same period in the prior year, the business earned $1.69 earnings per share.

About Northeast Bank

Northeast Bank provides banking services to individual and corporate customers in Maine. The company's deposit products include demand deposit, NOW, money market, savings, certificate of deposit, and individual retirement accounts, as well as checking accounts. Its loan portfolio comprises residential mortgage loans; multi-family and other commercial real estate loans; commercial and industrial loans, such as term loans, lines of credit and equipment, and receivables financing; consumer loans comprising mobile home and overdraft, and deposit-secured loans; and small business administration loans.