The First Bancorp Declares Third Quarter Dividend

Rhea-AI Summary

The First Bancorp (NASDAQ: FNLC) has announced a quarterly cash dividend of 32 cents per share, payable on October 22, 2021, to shareholders of record as of October 12, 2021. This dividend reflects an annualized rate of $1.28, providing a yield of 4.34% based on the closing price of $29.50 on September 29, 2021. The company's recent earnings have been strong, with record earnings reported in both 2020 and the first half of 2021, according to CEO Tony C. McKim.

Positive

• Quarterly cash dividend of 32 cents per share declared.
• Annualized dividend of $1.28 equates to a yield of 4.34%.
• Record first half earnings reported in 2021, following record earnings in 2020.

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 third quarter dividend is payable October 22, 2021 to shareholders of record as of October 12, 2021. Based on the September 29, 2021 closing price of $29.50 per share, the annualized dividend of $1.28 per share translates to a yield of 4.34%.

"The First Bancorp has followed record annual earnings in 2020 with record first half earnings in 2021," 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. 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/20210930005886/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 cash dividend amount declared by The First Bancorp (NASDAQ: FNLC)?

The First Bancorp has declared a cash dividend of 32 cents per share.

When is the dividend payment date for FNLC shareholders?

The dividend payment date is October 22, 2021.

What is the yield of the dividend based on FNLC's recent closing price?

The dividend yield is 4.34% based on the closing price of $29.50 on September 29, 2021.

What were the earnings results for The First Bancorp in 2021?

The First Bancorp reported record earnings for the first half of 2021.