HONESDALE, Pa. – Norwood Monetary Corp (NASDAQ:NWFL) and its subsidiary Wayne Financial institution, have introduced a maintained quarterly money dividend of $0.30 per share, payable on November 1, 2024, to shareholders of report as of October 18, 2024. This declaration matches the dividend from the second quarter of 2024 and marks a 3.5% improve from the third quarter of the earlier 12 months.
President and CEO James O. Donnelly expressed satisfaction with the corporate’s potential to maintain this dividend, attributing it to Norwood’s monetary well being and capital energy, which have underpinned its stable efficiency. The financial institution operates in Northeastern Pennsylvania and throughout a number of counties in New York, with a complete of fifteen places of work in Pennsylvania and fourteen in New York.
As of June 30, 2024, the monetary establishment reported complete property of roughly $2.235 billion, with loans excellent of $1.641 billion, complete deposits of $1.811 billion, and complete capital of $182.2 million. NWFL’s efficiency and these monetary indicators are reflective of the corporate’s present market standing.
This information relies on a press launch assertion and is meant for shareholders and buyers who observe the efficiency of Norwood Monetary Corp. It needs to be famous that forward-looking statements included within the press launch usually are not historic info and could also be topic to dangers and uncertainties that would trigger precise outcomes to vary materially from these anticipated. The corporate has acknowledged that it doesn’t undertake to replace any forward-looking statements which may be revised sooner or later.
Traders and shareholders are inspired to think about the corporate’s newest monetary place and dividend announcement as they assess their funding selections. Norwood Monetary Corp’s inventory continues to be traded on the Nasdaq International Market underneath the ticker NWFL.
InvestingPro Insights
Norwood Monetary Corp’s (NASDAQ:NWFL) latest dividend announcement aligns with its sturdy observe report of shareholder returns. Based on InvestingPro Ideas, the corporate has raised its dividend for 26 consecutive years and has maintained dividend funds for 27 consecutive years. This consistency in dividend coverage underscores the corporate’s dedication to returning worth to shareholders, even in difficult financial environments.
The present dividend yield stands at 4.41%, primarily based on InvestingPro Information, which is especially engaging given the corporate’s profitability over the past twelve months. This yield, coupled with the corporate’s dividend development of three.45% within the final twelve months as of Q2 2024, reinforces Norwood’s attraction to income-focused buyers.
Whereas the corporate’s income development has confronted headwinds, with a decline of 18.66% within the final twelve months as of Q2 2024, Norwood maintains a stable working revenue margin of 28.99%. This implies that regardless of top-line pressures, the corporate is managing its bills successfully to protect profitability.
It is value noting that Norwood’s P/E ratio of 16.77 and Value to Guide ratio of 1.22 point out that the inventory could also be fairly valued relative to its earnings and e-book worth. These metrics, together with the corporate’s dividend historical past, present a extra complete image of Norwood’s monetary well being and market place.
For buyers looking for extra insights, InvestingPro affords 14 extra suggestions for Norwood Monetary Corp, which may present worthwhile context for funding selections within the banking sector.
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