Northrim BanCorp, Inc. Declares Quarterly Cash Dividend of $0.61 per Share

Rhea-AI Summary

Northrim BanCorp announced a quarterly cash dividend of $0.61 per share, payable on June 14, 2024, to shareholders of record as of June 6, 2024. This dividend yields 4.60% annually based on the May 23, 2024, stock price of $53.01. Northrim reported a net income of $8.2 million, or $1.48 per diluted share, for Q1 2024, an improvement from $6.6 million, or $1.19 per diluted share, in Q4 2023, and $4.8 million, or $0.84 per diluted share, in Q1 2023.

Positive

• Quarterly cash dividend of $0.61 per share.
• Annual dividend yield of 4.60%.
• Net income increased to $8.2 million in Q1 2024.
• Earnings per share of $1.48 in Q1 2024.
• Improved net income from $6.6 million in Q4 2023.

Negative

• None reported in the press release.

ANCHORAGE, Alaska, May 24, 2024 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of $0.61 per share. The dividend will be payable on June 14, 2024, to shareholders of record at the close of business on June 6, 2024.

“We are pleased to announce a quarterly dividend of $0.61 per share, as we continue to provide returns to our shareholders,” said Mike Huston, President and CEO. At the stock price of $53.01 per share at the close of the market on May 23, 2024, the current dividend equates to a yield of 4.60% on an annualized basis.

On April 24, 2024, Northrim reported net income of $8.2 million, or $1.48 per diluted share, in the first quarter of 2024, compared to $6.6 million, or $1.19 per diluted share, in the fourth quarter of 2023, and $4.8 million, or $0.84 per diluted share, in the first quarter a year ago.

About Northrim BanCorp

Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with 20 branches in Anchorage, Eagle River, the Matanuska Valley, the Kenai Peninsula, Juneau, Fairbanks, Nome, Kodiak, Ketchikan, and Sitka, serving 90% of Alaska’s population; an asset based lending division in Washington; and a wholly-owned mortgage brokerage company, Residential Mortgage Holding Company, LLC. The Bank differentiates itself with its detailed knowledge of Alaska’s economy and its “Customer First Service” philosophy. Pacific Wealth Advisors, LLC is an affiliated company of Northrim BanCorp.

www.northrim.com

Contact:	Mike Huston, President, CEO, and COO (907) 261-8750
	Jed Ballard, Chief Financial Officer (907) 261-3539

 

FAQ

What is the dividend per share for Northrim BanCorp in Q2 2024?

The dividend per share for Northrim BanCorp in Q2 2024 is $0.61.

When is the dividend payment date for Northrim BanCorp (NRIM)?

The dividend payment date for Northrim BanCorp is June 14, 2024.

What is the record date for Northrim BanCorp's Q2 2024 dividend?

The record date for Northrim BanCorp's Q2 2024 dividend is June 6, 2024.

What is Northrim BanCorp's (NRIM) annual dividend yield?

Northrim BanCorp's annual dividend yield is 4.60%.

What was Northrim BanCorp's net income for Q1 2024?

Northrim BanCorp's net income for Q1 2024 was $8.2 million.

How much did Northrim BanCorp earn per share in Q1 2024?

Northrim BanCorp earned $1.48 per diluted share in Q1 2024.

How does Northrim BanCorp's Q1 2024 net income compare to Q4 2023?

Northrim BanCorp's Q1 2024 net income increased to $8.2 million from $6.6 million in Q4 2023.

What was Northrim BanCorp's stock price on May 23, 2024?

Northrim BanCorp's stock price was $53.01 on May 23, 2024.