The First Bancorp Declares First Quarter Dividend

Rhea-AI Summary

The First Bancorp (FNLC) declares a quarterly cash dividend of 35 cents per share, payable on April 19, 2024. The annualized dividend of $1.40 per share offers a 5.86% yield. The company, founded in 1864, serves Mid-Coast and Down East Maine with a full range of banking products and services.

DAMARISCOTTA, Maine--(BUSINESS WIRE)-- The First Bancorp (NASDAQ: FNLC), the parent company of First National Bank, today declared a quarterly cash dividend of 35 cents per share. This first quarter dividend is payable April 19, 2024 to shareholders of record as of April 9, 2024.

"I'm pleased to announce a first quarter dividend of 35 cents per share", remarked President & Chief Executive Officer, Tony C. McKim. "The quarterly dividend remains an important component of the value we offer our shareholders. Based on the March 27, 2024 closing price of $23.89 per share, the annualized dividend of $1.40 per share represents an attractive yield of 5.86%."

The First Bancorp, headquartered in Damariscotta, Maine, is the holding company for First National Bank. Founded in 1864, the Bank serves Mid-Coast and Down East Maine with eighteen offices in Lincoln, Knox, Hancock, Penobscot, Waldo and Washington Counties. The Bank provides a full range of consumer and commercial banking products and services. First National Wealth Management, a division of First National Bank, provides investment management and trust services from five offices in Lincoln, Knox, Penobscot and Hancock Counties.

Forward-looking and cautionary statements: except for the historical information and discussions contained herein, statements contained in this release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially, as discussed in the Company's filings with the Securities and Exchange Commission.

Category: Dividends

View source version on businesswire.com: https://www.businesswire.com/news/home/20240328725276/en/

The First Bancorp

Richard M. Elder, EVP, Chief Financial Officer

207-563-3195

rick.elder@thefirst.com

Source: The First Bancorp

FAQ

What is the dividend amount declared by The First Bancorp (FNLC)?

The First Bancorp declared a quarterly cash dividend of 35 cents per share.

When is the dividend payable to shareholders of The First Bancorp (FNLC)?

The dividend is payable on April 19, 2024, to shareholders of record as of April 9, 2024.

What is the annualized dividend per share offered by The First Bancorp (FNLC)?

The annualized dividend is $1.40 per share, representing a yield of 5.86%.

Where is The First Bancorp (FNLC) headquartered?

The First Bancorp is headquartered in Damariscotta, Maine.

How many offices does First National Bank, a division of The First Bancorp (FNLC), have?

First National Bank has eighteen offices in Lincoln, Knox, Hancock, Penobscot, Waldo, and Washington Counties.