Norwood Financial Corp Announces Cash Dividend

Rhea-AI Summary

Norwood Financial Corp (NASDAQ: NWFL) announced a $0.30 per share cash dividend, payable on August 1, 2024, to shareholders of record as of July 15, 2024. This dividend maintains the amount declared in the first quarter of 2024 and marks a 3.5% increase over the second quarter of 2023. The dividend reflects the company’s strong financial position and overall performance. Norwood Financial, through Wayne Bank, operates in various regions of Pennsylvania and New York. As of March 31, 2024, Norwood's assets totaled $2.260 billion, with loans of $1.621 billion, deposits of $1.839 billion, and total capital of $181.2 million.

Positive

• $0.30 per share cash dividend declared.
• 3.5% increase over the second quarter of 2023 dividend.
• Dividend indicates strong financial performance and capital position.

Negative

• None.

HONESDALE, Pa., June 26, 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 cash dividend, which is payable August 1, 2024, to shareholders of record as of July 15, 2024. The $0.30 per share equals the per share dividend declared in the first quarter of 2024 and represents a 3.5% increase over the cash dividend declared in the second quarter of 2023.

Mr. Donnelly 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 fourteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York. As of March 31, 2024, Norwood had total assets of $2.260 billion, loans outstanding of $1.621 billion, total deposits of $1.839 billion and total capital of $181.2 million. The Company’s stock is traded on the Nasdaq Global Market under the symbol “NWFL”.

Forward-Looking Statements.
Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by the Company with the Securities and Exchange Commission from time to time. The Company does not undertake and specifically disclaims any obligation to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

CONTACT:	John M. McCaffery Executive Vice President and Chief Financial Officer NORWOOD FINANCIAL CORP (272) 304-3003 www.waynebank.com

FAQ

What dividend has Norwood Financial Corp (NWFL) announced?

A $0.30 per share cash dividend payable on August 1, 2024.

When is the record date for the NWFL dividend?

The record date is July 15, 2024.

How does the NWFL dividend for Q2 2024 compare to Q2 2023?

The Q2 2024 dividend is a 3.5% increase over the Q2 2023 dividend.

What does the dividend announcement indicate about NWFL's financial health?

It reflects Norwood Financial's strong financial performance and capital position.

Where does Norwood Financial Corp operate?

Norwood Financial, through Wayne Bank, operates in Northeastern Pennsylvania and parts of New York.