Camden National Corporation Announces its Fourth Quarter 2024 Dividend

Rhea-AI Summary

Camden National (NASDAQ: CAC) has declared a quarterly dividend of $0.42 per share. Based on the company's closing stock price of $45.91 on December 16, 2024, this represents an annualized dividend yield of 3.66%. The dividend will be paid on January 31, 2025, to shareholders of record as of January 15, 2025.

Positive

• Maintained quarterly dividend of $0.42 per share
• Offers attractive 3.66% annualized dividend yield

Negative

• None.

Insights

Financial Analyst

The maintained quarterly dividend of $0.42 per share signals stability in Camden National's capital return policy. With an annualized yield of 3.66%, the dividend remains competitive compared to regional bank peers. The unchanged dividend payout suggests management's confidence in the bank's capital position and ability to generate consistent cash flows, despite the challenging interest rate environment facing the banking sector. The current yield provides a reasonable income stream for investors, particularly considering the bank's market capitalization of $668 million. While not groundbreaking, this dividend announcement reinforces Camden National's commitment to shareholder returns and its stable financial position in the regional banking landscape.

CAMDEN, Maine, Dec. 17, 2024 /PRNewswire/ -- Simon R. Griffiths, 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 $0.42 per share. This quarterly payout results in an annualized dividend yield of 3.66% based on the December 16, 2024 closing price of the Company's common stock at $45.91 per share as reported by NASDAQ. The dividend is payable on January 31, 2025 to shareholders of record on January 15, 2025.

About Camden National Corporation

Camden National Corporation (NASDAQ: CAC) is Northern New England's largest publicly traded bank holding company, with $5.7 billion in assets. Founded in 1875, Camden National Bank has 57 branches in Maine and New Hampshire, is a full-service community bank offering the latest digital banking, complemented by award-winning, personalized service. Additional information is available at CamdenNational.bank. Member FDIC. Equal Housing Lender.

Comprehensive wealth management, investment, and financial planning services are delivered by Camden National Wealth Management.

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SOURCE Camden National Corporation

FAQ

What is Camden National 's dividend amount for Q4 2024?

Camden National (CAC) declared a quarterly dividend of $0.42 per share for the fourth quarter of 2024.

When is Camden National's Q4 2024 dividend payment date?

Camden National's Q4 2024 dividend will be paid on January 31, 2025, to shareholders of record as of January 15, 2025.

What is CAC's dividend yield based on December 16, 2024 stock price?

Based on Camden National's closing stock price of $45.91 on December 16, 2024, the annualized dividend yield is 3.66%.

What is the record date for Camden National's Q4 2024 dividend?

The record date for Camden National's Q4 2024 dividend is January 15, 2025.