Camden National Corporation Announces an 11% Increase in its Fourth Quarter 2021 Dividend

Rhea-AI Summary

On December 21, 2021, Camden National Corporation (NASDAQ: CAC) announced a quarterly dividend of $0.40 per share, reflecting an 11% increase from the previous quarter and a 21% increase year-over-year. This yield equates to an annualized rate of 3.52% based on a stock price of $45.47 as of December 20, 2021. The dividend will be paid on January 31, 2022, to shareholders of record by January 14, 2022. This marks the second increase in dividends this year, highlighting the company's commitment to rewarding its shareholders.

Positive

• Quarterly dividend increased by 11% over the last quarter.
• Dividend increased by 21% compared to the same period last year.
• Annualized dividend yield of 3.52% based on recent stock price.
• Demonstrates company confidence and commitment to shareholders.

Negative

• None.

CAMDEN, Maine, Dec. 21, 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 $0.40 per share, an increase of $0.04 per share, or 11%, over last quarter and $0.07 per share, or 21%, over the same period last year. This quarterly payout results in an annualized dividend yield of 3.52% based on the December 20, 2021 closing price of the Company's common stock at $45.47 per share as reported by NASDAQ. The dividend is payable on January 31, 2022 to shareholders of record on January 14, 2022.

"For the second time this year, we are pleased to announce an increase in our quarterly dividend payment to our shareholders," said Dufour. "A 21% increase in our quarterly dividend aligns with our focus on rewarding shareholders while maintaining sufficient capital levels."

About Camden National Corporation

Camden National Corporation (NASDAQ:CAC) is the largest publicly traded bank holding company in Northern New England with $5.5 billion in assets and approximately 600 employees. Camden National Bank, its subsidiary, is a full-service community bank founded in 1875 in Camden, Maine. 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 2021, 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, and the bank was included in the 2021 list of Best Places to Work in Maine. 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 for Camden National Corporation (CAC)?

The new dividend amount is $0.40 per share.

When will the dividend for CAC be paid?

The dividend will be paid on January 31, 2022.

What is the annualized dividend yield for CAC based on the latest announcement?

The annualized dividend yield is 3.52%.

What was the percentage increase of the dividend compared to last quarter?

The dividend increased by 11% over the last quarter.

How much has the dividend increased compared to the same period last year?

The dividend increased by 21% compared to the same period last year.