DAMARISCOTTA, Maine -- (Business Wire)
The Board of Directors of The First Bancorp (NASDAQ: FNLC), parent
company of First National Bank, today declared a quarterly dividend of
23 cents per share. This first-quarter dividend is payable April 28,
2017, to shareholders of record as of April 6, 2017, and is equal to the
regular dividend of 23 cents per share the Company paid in the past
three quarters. Based on the March 22, 2017 closing price of $25.59 per
share, the annualized dividend of 92 cents per share translates to a
yield of 3.60%.
“The Company posted record earnings in 2016,” noted the Company’s
President & Chief Executive Officer, Tony C. McKim, “up $1.8 million or
11.1% over 2015. These strong earnings enable us to continue to reward
our Shareholders with a generous dividend payout that is well above
peer. We consistently hear from our shareholders that our dividend
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 First National Bank. Founded in 1864, the Bank serves the
Pine Tree State 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
First National Bank, provides investment advisory, wealth management and
trust services from five offices in Lincoln, Knox, 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.
For more information, please contact F. Stephen Ward, the First
Bancorp's Treasurer & Chief Financial Officer, at 207.563.3272.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170323006229/en/
Contacts:
The First Bancorp
F. Stephen Ward, 207-563-3272
Treasurer &
Chief Financial Officer
Source: The First Bancorp
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