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

Northeast Bank (NASDAQ:NBN) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Monday, May 13th will be given 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 yield of 0.07%. The ex-dividend date is Friday, May 10th.

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

Northeast Bank Price Performance

Shares of NASDAQ NBN traded up $0.77 during midday trading on Thursday, hitting $53.79. 6,901 shares of the company’s stock were exchanged, compared to its average volume of 25,299. Northeast Bank has a twelve month low of $34.20 and a twelve month high of $59.00. The firm’s fifty day simple moving average is $52.92 and its 200-day simple moving average is $52.51.

Northeast Bank (NASDAQ:NBN) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.11. The business had revenue of $66.03 million for the quarter, compared to analyst estimates of $36.34 million. During the same period last year, the business posted $1.69 EPS.

Northeast Bank Company Profile

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.