Norwood Financial Corp Announces Cash Dividend
Norwood Financial Corp (NWFL) announced a cash dividend of $.28 per share, payable on August 1, 2022, to shareholders of record by July 15, 2022. This dividend remains consistent with the previous quarter's payout but marks a 7.7% increase from the same period in 2021. CEO James O. Donnelly expressed confidence in the company's financial strength and capital position as contributing factors to this decision. As of March 31, 2022, Norwood's total assets were $2.078 billion, with loans of $1.372 billion and deposits totaling $1.782 billion.
- Declared a cash dividend of $.28 per share, indicating confidence in financial stability.
- 7.7% increase compared to second quarter of 2021 shows growth potential.
- Potential risks include the ability to maintain or increase dividends in the future.
- Economic uncertainties and COVID-19 may adversely affect financial performance.
HONESDALE, Pa., June 17, 2022 (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 declared a $.28 per share cash dividend, which is payable August 1, 2022 to shareholders of record as of July 15, 2022. The $.28 per share equals the per share dividend declared in the prior quarter, and represents a
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 fourteen offices in Northeastern Pennsylvania and fifteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York. As of March 31, 2022, Norwood had total assets of
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 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 for August 2022?
When is the record date for the NWFL dividend?
How much has the NWFL dividend increased from last year?
What are the total assets of Norwood Financial Corp as of March 31, 2022?
