Northrim BanCorp, Inc. Declares Quarterly Cash Dividend of $0.35 per Share
Northrim BanCorp, Inc. (NASDAQ: NRIM) announced a quarterly cash dividend of $0.35 per share, to be paid on September 18, 2020, for shareholders of record by September 10, 2020.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Northrim BanCorp, Inc. (NASDAQ: NRIM) announced a quarterly cash dividend of $0.35 per share, to be paid on September 18, 2020, for shareholders of record by September 10, 2020. This represents an annualized yield of 5.38% based on a stock price of $26.01 as of August 27, 2020. The company reported a significant increase in earnings of $9.9 million or $1.52 per diluted share for Q2 2020, compared to $1.03 million in Q1 2020 and $4.26 million in Q2 2019, driven by a boost in Home Mortgage Lending and participation in the SBA Paycheck Protection Program.
Positive
- Quarterly cash dividend of $0.35 per share announced.
- Annualized yield of 5.38% enhances shareholder value.
- Q2 2020 earnings increased to $9.9 million from $1.03 million in Q1 2020.
- Earnings per diluted share rose significantly to $1.52.
Negative
- None.
Details
News Market Reaction – NRIM
The recorded move for NRIM in the trading session of this news was +2.15%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ANCHORAGE, Alaska, Aug. 28, 2020 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced that the Board of Directors declared a regular quarterly cash dividend of
“We believe providing a consistent quarterly cash dividend is an excellent means of providing value to our shareholders, especially during these uncertain times,” said Joe Schierhorn, President and CEO. At the stock price of
On July 27, 2020, Northrim reported earnings of
About Northrim BanCorp
Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with 16 branches in Anchorage, the Matanuska Valley, Juneau, Fairbanks, Ketchikan, Sitka and Soldotna, and a loan production office in Kodiak, serving
-0-
| Contact: | Joe Schierhorn, President, CEO, and COO (907) 261-3308 Jed Ballard, Chief Financial Officer (907) 261-3539 | |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.