The First Bancorp Declares Fourth Quarter Dividend

Rhea-AI Summary

The First Bancorp (NASDAQ: FNLC) declared a quarterly cash dividend of 32 cents per share, payable on January 21, 2022, to shareholders of record as of January 10, 2022. With the December 29, 2021 closing price of $31.70 per share, the annualized dividend of $1.28 reflects a yield of 4.04%. The company reported strong performance in 2021, highlighting record earnings in the first nine months, with the Board of Directors committed to rewarding shareholders through dividends.

Positive

• Quarterly dividend of 32 cents per share announced.
• Annualized dividend yield of 4.04%, attractive for investors.
• Company reported record earnings in the first nine months of 2021.

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 32 cents per share. This fourth quarter dividend is payable January 21, 2022 to shareholders of record as of January 10, 2022. Based on the December 29, 2021 closing price of $31.70 per share, the annualized dividend of $1.28 per share translates to a yield of 4.04%.

"The First Bancorp has performed very well in 2021 with record earnings being reported through the first nine months of the year," remarked President & Chief Executive Officer, Tony C. McKim. "I'm pleased that the Company's Board of Directors continues to share this success with our shareholders in the form of a generous cash dividend."

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 seventeen offices in Lincoln, Knox, Hancock, Penobscot, Waldo and Washington Counties. An eighteenth office is expected to open in Brewer, Maine in early 2022. 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/20211230005297/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 for Q4 2021?

The First Bancorp declared a dividend of 32 cents per share for Q4 2021.

When is the dividend payable to shareholders for The First Bancorp?

The dividend is payable on January 21, 2022.

What is the yield on the dividend declared by The First Bancorp?

The annualized dividend yield is 4.04% based on a closing price of $31.70.

What are the record dates for the dividend payment by The First Bancorp?

Shareholders of record as of January 10, 2022, will receive the dividend.

How did The First Bancorp perform financially in 2021?

The First Bancorp reported record earnings through the first nine months of 2021.