First Bancorp (NASDAQ: FNLC), the Damariscotta-based parent company of First National Bank, has declared a quarterly cash dividend of 34 cents per share. This dividend is payable on Jan. 20, 2023, to shareholders of record as of Jan. 9, 2023.
Based on the Dec. 13 closing price of $29.93 per share, the annualized dividend of $1.36 per share translates to a yield of 4.54%.
“The First Bancorp has posted strong operating results in 2022, with record earnings reported for each of the first three quarters”, said Tony C. McKim, president and CEO. “Sharing that success with our shareholders is a priority of our board of directors, and I’m pleased to do so again this quarter in the form of an attractive cash dividend.”
With $2.6 billion in assets of June 30, 2022, First National is ranked the fourth-largest Maine-based bank in the 2023 Mainebiz Book of Lists, due to be published Dec. 26.
The bank serves Maine’s midcoast and Downeast regions via 18 offices in Lincoln, Knox, Hancock, Penobscot, Waldo and Washington counties, and offers a full range of consumer and commercial banking products and services.
First National Wealth Management, a division of First National Bank, provides investment management and trust services from five offices in Lincoln, Knox, Penobscot and Hancock counties.
In October, the First Bancorp posted an 11.9% jump in first-quarter earnings and higher interest income.
Unaudited net income was $10.1 million, up from $9 million in the same period last year and representing a new quarterly earnings high mark.