Norwood Financial Corp Announces Cash Dividend

Rhea-AI Summary

Norwood Financial Corp (NWFL) announces a $0.30 per share quarterly cash dividend, marking a 3.5% increase from the previous year. The company, with total assets of $2.201 billion, operates multiple offices in Pennsylvania and New York, showcasing strong financial performance and capital position.

Positive

• Norwood Financial Corp declares a $0.30 per share quarterly cash dividend, up by 3.5% from the first quarter of 2023.
• The company operates fourteen offices in Northeastern Pennsylvania and fifteen offices in New York, reflecting a strong presence in the region.
• As of December 31, 2023, Norwood Financial Corp had total assets of $2.201 billion, loans outstanding of $1.604 billion, total deposits of $1.795 billion, and total stockholders’ equity of $181.1 million.
• The Board's decision to increase the dividend signifies the company's financial strength and solid performance, benefiting shareholders.

Negative

• None.

HONESDALE, Pa., March 22, 2024 (GLOBE NEWSWIRE) -- James O. Donnelly, President and Chief Executive Officer of Norwood Financial Corp (NASDAQ Global Market - NWFL) and its subsidiary Wayne Bank, announced that the Board of Directors has declared a $0.30 per share quarterly cash dividend payable May 1, 2024, to shareholders of record as of April 15, 2024. The $0.30 per share represents an increase of 3.5% over the cash dividend declared in the first quarter of 2023.

Mr. Donnelly commented, “The Board is extremely pleased to provide our shareholders with this quarterly cash 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 fourteen offices in Northeastern Pennsylvania and fifteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York. As of December 31, 2023, the Company had total assets of $2.201 billion, loans outstanding of $1.604 billion, total deposits of $1.795 billion and total stockholders’ equity of $181.1 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 risks and uncertainties which may cause actual results to differ materially from those currently anticipated, and therefore readers should not place undue reliance on any forward looking statements. Those risks and uncertainties include, but are not limited to, our ability to pay or increase cash dividends in the future, the continued financial strength, solid performance and strong capital position of the Company, changes in federal and state laws, changes in the absolute and relative levels of interest rates, 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 quarterly cash dividend declared by Norwood Financial Corp (NWFL)?

Norwood Financial Corp declared a $0.30 per share quarterly cash dividend.

How much is the increase in the cash dividend compared to the first quarter of 2023 for NWFL?

The cash dividend represents a 3.5% increase from the previous year.

Where does Norwood Financial Corp operate its offices?

Norwood Financial Corp operates fourteen offices in Northeastern Pennsylvania and fifteen offices in New York.

What were the total assets of Norwood Financial Corp as of December 31, 2023?

As of December 31, 2023, Norwood Financial Corp had total assets of $2.201 billion.

On which market is the stock of Norwood Financial Corp traded?

The stock of Norwood Financial Corp is traded on the Nasdaq Global Market under the symbol 'NWFL'.