Norwood Financial Corp Announces Cash Dividend

Rhea-AI Summary

Lewis J. Critelli, President and CEO of Norwood Financial Corp (NASDAQ: NWFL), announced a $0.25 per share cash dividend payable on August 3, 2020, to shareholders of record as of July 17, 2020. This dividend reflects a 4.2% increase from the previous year's second quarter. Norwood Financial Corp, through its subsidiary Wayne Bank, has total assets of $1.2 billion, loans of $928.6 million, and total deposits of $990.2 million as of March 31, 2020.

Positive

• Quarterly dividend of $0.25 per share reflects strong financial performance.
• 4.2% increase in dividend compared to the previous year indicates robust capital position.

Negative

• Potential risks from COVID-19 may adversely affect financial condition.
• Uncertainties related to interest rate changes and economic conditions could impact operations.

HONESDALE, Pa., June 11, 2020 (GLOBE NEWSWIRE) -- Lewis J. Critelli, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market - NWFL) and its subsidiary Wayne Bank announced that the Board of Directors declared a $.25 per share cash dividend which is payable August 3, 2020 to shareholders of record as of July 17, 2020. The $.25 per share equals the per share dividend declared in the prior quarter and represents a 4.2% increase over the cash dividend declared in the second quarter of last year.

Mr. Critelli commented, “The Board is extremely pleased to provide our shareholders with this quarterly dividend. It reflects the Company’s financial strength and strong capital position which has contributed to our solid performance.”

Norwood Financial Corp, through its subsidiary, Wayne Bank operates fifteen offices in Northeastern Pennsylvania and twelve offices in Delaware and Sullivan Counties, New York. As of March 31, 2020, Norwood had total assets of $1.2 billion, loans outstanding of $928.6 million, total deposits of $990.2 million and total capital of $142.2 million. The Company’s stock is traded on the Nasdaq Global Market under the symbol “NWFL”.

Forward-Looking Statements.
The foregoing material may contain forward-looking statements. We caution that such statements may be subject to a number of uncertainties and actual results could differ materially and therefore readers should not place undue reliance on any forward-looking statements. Those risks and uncertainties include changes in federal and state laws, changes in the absolute and relative levels of interest rates, the potential adverse impact the COVID-19 pandemic may have on Norwood’s financial condition and results of operations, the ability to control costs and expenses, demand for real estate, costs associated with cybercrime, general economic conditions and the effectiveness of governmental responses thereto. Norwood Financial Corp does not undertake and specifically disclaims any obligation to publicly release the results of any revisions that may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

CONTACT:	William Lance
	Executive Vice President and Chief Financial Officer
	NORWOOD FINANCIAL CORP
	(570) 253-8505
	www.waynebank.com

FAQ

What is the dividend amount for NWFL declared in June 2020?

Norwood Financial Corp declared a dividend of $0.25 per share.

When is the payment date for the NWFL dividend?

The dividend is payable on August 3, 2020.

What was the year-over-year change in the NWFL dividend?

The dividend reflects a 4.2% increase over the second quarter of last year.

Who is the CEO of Norwood Financial Corp?

Lewis J. Critelli is the President and CEO.

What are the total assets of Norwood Financial Corp?

As of March 31, 2020, Norwood Financial Corp has total assets of $1.2 billion.