Camden National Corporation Announces its Third Quarter 2024 Dividend

Rhea-AI Summary

Camden National (NASDAQ: CAC) has announced its third quarter 2024 dividend. The board of directors declared a quarterly dividend of $0.42 per share, payable on October 31, 2024, to shareholders of record on October 15, 2024. This quarterly payout results in an annualized dividend yield of 4.27%, based on the September 23, 2024 closing price of the Company's common stock at $39.39 per share as reported by NASDAQ. The announcement was made by Simon R. Griffiths, President and Chief Executive Officer of Camden National

Positive

• Quarterly dividend of $0.42 per share declared
• Annualized dividend yield of 4.27% based on current stock price

Negative

• None.

Insights

Financial Analyst

Camden National 's announcement of a $0.42 quarterly dividend maintains its consistent payout to shareholders. The 4.27% annualized yield is attractive in the current market environment, especially for a regional bank. This yield is above average for the banking sector, potentially indicating strong financial health and commitment to shareholder returns.

However, investors should note that dividend yields can fluctuate with stock price changes. The stable dividend in a challenging interest rate environment suggests management's confidence in the bank's near-term financial outlook. While this news is positive for income-focused investors, it's important to consider the broader financial performance and balance sheet strength of Camden National before making investment decisions based solely on dividend yield.

CAMDEN, Maine, Sept. 24, 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 4.27% based on the September 23, 2024 closing price of the Company's common stock at $39.39 per share as reported by NASDAQ. The dividend is payable on October 31, 2024 to shareholders of record on October 15, 2024.

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 (CAC) quarterly dividend for Q3 2024?

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

When is the Q3 2024 dividend payable for Camden National (CAC)?

The Q3 2024 dividend for Camden National (CAC) is payable on October 31, 2024, to shareholders of record on October 15, 2024.

What is the annualized dividend yield for Camden National (CAC) based on the September 23, 2024 closing price?

The annualized dividend yield for Camden National (CAC) is 4.27%, based on the September 23, 2024 closing price of $39.39 per share.

What was Camden National 's (CAC) stock price on September 23, 2024?

Camden National 's (CAC) stock price was $39.39 per share at closing on September 23, 2024, as reported by NASDAQ.