Norwood Financial Corp Announces Cash Dividend
Norwood Financial Corp (NASDAQ: NWFL) has declared a quarterly cash dividend of $0.28 per share, reflecting a 7.7% increase over the prior year's first quarter dividend. The dividend is payable on May 2, 2022, to stockholders of record as of April 14, 2022. CEO Lewis J. Critelli highlighted the company's financial strength and solid performance as driving factors for this distribution. As of December 31, 2021, Norwood had total assets of $2.069 billion and total stockholders' equity of $205.3 million.
- Quarterly cash dividend increased by 7.7% to $0.28 per share, indicating strong financial performance.
- Total assets reported at $2.069 billion, showing a solid financial base.
- Potential risks include uncertainties affecting future dividend payments and financial performance due to economic conditions and the COVID-19 pandemic.
HONESDALE, Pa., March 11, 2022 (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 has declared a
Mr. Critelli commented, “The Board is extremely pleased to provide our stockholders 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 sixteen offices in Delaware, Sullivan, Ontario, Otsego and Yates Counties, New York. As of December 31, 2021, the Company 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 |
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