HONESDALE, Pa. - Norwood Financial Corp (NASDAQ:NWFL) and its subsidiary Wayne Bank, have announced a maintained quarterly cash dividend of $0.30 per share, payable on November 1, 2024, to shareholders of record as of October 18, 2024. This declaration matches the dividend from the second quarter of 2024 and marks a 3.5% increase from the third quarter of the previous year.
President and CEO James O. Donnelly expressed satisfaction with the company's ability to sustain this dividend, attributing it to Norwood's financial health and capital strength, which have underpinned its solid performance. The bank operates in Northeastern Pennsylvania and across several counties in New York, with a total of fifteen offices in Pennsylvania and fourteen in New York.
As of June 30, 2024, the financial institution reported total assets of approximately $2.235 billion, with loans outstanding of $1.641 billion, total deposits of $1.811 billion, and total capital of $182.2 million. NWFL's performance and these financial indicators are reflective of the company's current market standing.
This news is based on a press release statement and is intended for shareholders and investors who track the performance of Norwood Financial Corp. It should be noted that forward-looking statements included in the press release are not historical facts and may be subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. The company has stated that it does not undertake to update any forward-looking statements that may be revised in the future.
Investors and shareholders are encouraged to consider the company's latest financial position and dividend announcement as they assess their investment decisions. Norwood Financial Corp's stock continues to be traded on the Nasdaq Global Market under the ticker NWFL.
InvestingPro Insights
Norwood Financial Corp's (NASDAQ:NWFL) recent dividend announcement aligns with its strong track record of shareholder returns. According to InvestingPro Tips, the company has raised its dividend for 26 consecutive years and has maintained dividend payments for 27 consecutive years. This consistency in dividend policy underscores the company's commitment to returning value to shareholders, even in challenging economic environments.
The current dividend yield stands at 4.41%, based on InvestingPro Data, which is particularly attractive given the company's profitability over the last twelve months. This yield, coupled with the company's dividend growth of 3.45% in the last twelve months as of Q2 2024, reinforces Norwood's appeal to income-focused investors.
While the company's revenue growth has faced headwinds, with a decline of 18.66% in the last twelve months as of Q2 2024, Norwood maintains a solid operating income margin of 28.99%. This suggests that despite top-line pressures, the company is managing its expenses effectively to preserve profitability.
It's worth noting that Norwood's P/E ratio of 16.77 and Price to Book ratio of 1.22 indicate that the stock may be reasonably valued relative to its earnings and book value. These metrics, along with the company's dividend history, provide a more comprehensive picture of Norwood's financial health and market position.
For investors seeking additional insights, InvestingPro offers 14 more tips for Norwood Financial Corp, which could provide valuable context for investment decisions in the banking sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.