The First Bancorp Maintains Quarterly Dividend at 21 Cents per Share
The Board of Directors of The First Bancorp (NASDAQ:FNLC) today declared a quarterly dividend of 21 cents per share. This third-quarter dividend is payable October 31, 2014, to shareholders of record as of October 6, 2014, and is equal to the 21 cents per share dividend the Company paid in the past quarter. Based on the September 17, 2014 closing price of $16.78 per share, the annualized dividend of 84 cents per share translates into a yield of 5.01%.
“As we discussed in our second-quarter earnings release, all of our metrics are moving in the right direction in 2014,” commented the Company’s President & Chief Executive Officer, Daniel R. Daigneault. “With improved credit quality and strong earnings, maintaining the dividend at this level is consistent with our improved overall performance. Our generous dividend payout is very important to our shareholders and remains a key component in our total return and the valuation of our shares.”
The First Bancorp, headquartered in Damariscotta, Maine, is the holding company for The First, N.A. Founded in 1864, The First is an independent community bank serving Mid-Coast and Down East Maine with 16 offices in Lincoln, Knox, Hancock, Penobscot and Washington Counties. The Bank provides a full range of consumer and commercial banking products and services. First Advisors, a division of The First, provides investment advisory, private banking and trust services from four offices in Lincoln, Penobscot and Hancock Counties.
Forward-looking and cautionary statements: except for the historical information and discussions contained herein, statements contained in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially, as discussed in the Company’s filings with the Securities and Exchange Commission.
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