The First Bancorp Declares First Quarter Dividend

Rhea-AI Summary

The First Bancorp (NASDAQ: FNLC) has announced a quarterly cash dividend of 34 cents per share, payable on April 20, 2023, to shareholders of record as of April 10, 2023. This dividend represents an annualized yield of 5.18%, based on its closing price of $26.26 on March 29, 2023. The company, based in Damariscotta, Maine, serves the Mid-Coast and Down East regions through 18 offices and offers a range of banking products and wealth management services.

Positive

• Declared quarterly cash dividend of 34 cents per share.
• Annualized dividend yield of 5.18%, attractive for shareholders.

Negative

• None.

DAMARISCOTTA, Maine--(BUSINESS WIRE)-- The First Bancorp (NASDAQ: FNLC), the parent company of First National Bank, today declared a quarterly cash dividend of 34 cents per share. This first quarter dividend is payable April 20, 2023 to shareholders of record as of April 10, 2023.

"I'm pleased to announce a first quarter dividend of 34 cents per share," remarked President & Chief Executive Officer, Tony C. McKim. "Based on the March 29, 2023 closing price of $26.26 per share, the annualized dividend of $1.36 per share represents an attractive yield of 5.18% for our shareholders."

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

Source: The First Bancorp

View source version on businesswire.com: https://www.businesswire.com/news/home/20230330005727/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?

The First Bancorp declared a quarterly cash dividend of 34 cents per share.

When will The First Bancorp's dividend be paid?

The dividend will be payable on April 20, 2023.

What is the dividend record date for The First Bancorp?

The record date for the dividend is April 10, 2023.

What is the dividend yield based on the latest closing price?

The annualized dividend yield is 5.18%, based on a closing price of $26.26.