Camden National Corporation Announces a 9% Increase in its First Quarter 2021 Dividend

Rhea-AI Summary

Camden National Corporation (NASDAQ: CAC) has announced a quarterly dividend of $0.36 per share, reflecting a 9% increase from the previous dividend of $0.33. Based on the closing price of $47.70 on March 29, 2021, this results in an annualized yield of 3.02%. The dividend is scheduled for payment on April 30, 2021, to shareholders of record by April 15, 2021. CEO Gregory A. Dufour highlighted the company's strong financial performance, which supports its commitment to rewarding shareholders.

Positive

• Quarterly dividend increased by 9%, indicating strong financial health.
• Annualized dividend yield stands at 3.02%, attractive for investors.

Negative

• None.

CAMDEN, Maine, March 30, 2021 /PRNewswire/ -- Gregory A. Dufour, president and chief executive officer of Camden National Corporation (NASDAQ®: CAC; the "Company"), announced today that the board of directors of the Company declared a quarterly dividend of $0.36 per share, an increase of $0.03 per share, or 9%. This quarterly payout results in an annualized dividend yield of 3.02% based on the March 29, 2021 closing price of the Company's common stock at $47.70 per share as reported by NASDAQ. The dividend is payable on April 30, 2021 to shareholders of record on April 15, 2021.

"We are pleased to announce a 9% increase in our quarterly dividend payment to our shareholders," said Dufour. "Our strong financial performance supports our continued focus on rewarding shareholders while managing our capital levels."

About Camden National Corporation

Camden National Corporation (NASDAQ:CAC) is the largest publicly traded bank holding company in Northern New England with $5.2 billion in assets and approximately 610 employees. Camden National Bank, its subsidiary, is a full-service community bank founded in 1875 in Camden, ME. Dedicated to customers at every stage of their financial journey, the bank offers the latest in digital banking, complemented by personalized service with 58 banking centers, 24/7 live phone support, 68 ATMs, and additional lending offices in New Hampshire and Massachusetts. For the past three years, Camden National Bank was named a Customer Experience (CX) Leader by leading independent research firm, Greenwich Associates. In 2020, it received awards in two CX categories: U.S. Retail Banking and U.S. Commercial Small Business. The Finance Authority of Maine has awarded Camden National Bank as "Lender at Work for Maine" for eleven years. Comprehensive wealth management, investment and financial planning services are delivered by Camden National Wealth Management. To learn more, visit CamdenNational.com. Member FDIC.

 

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SOURCE Camden National Corporation

FAQ

What is the new dividend amount declared by Camden National Corporation?

The new quarterly dividend amount is $0.36 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on April 30, 2021.

What is the dividend yield for Camden National Corporation?

The annualized dividend yield is 3.02% based on the March 29, 2021 closing price.

Who is the CEO of Camden National Corporation?

The CEO is Gregory A. Dufour.