Norwood Financial Corp Announces Cash Dividend
March 22 2024 - 8:15AM
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 |
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