Northrim BanCorp, Inc. Increases Quarterly Cash Dividend to $0.37 per Share
Northrim BanCorp, Inc. (NASDAQ: NRIM) announced an increase in its quarterly cash dividend to $0.37 per share, payable on March 19, 2021.
Sentiment and the balance of points
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Rhea-AI Summary
Northrim BanCorp, Inc. (NASDAQ: NRIM) announced an increase in its quarterly cash dividend to $0.37 per share, payable on March 19, 2021. Shareholders of record as of March 11, 2021 will qualify for this dividend, reflecting the bank's commitment to returning value to investors. The stock price was $36.55 as of February 25, 2021, resulting in a 4.05% dividend yield. Northrim reported a net income of $10.1 million for Q4 2020, up from $4.58 million in Q4 2019, contributing to a 59% increase in annual net income for 2020.
Positive
- Quarterly dividend increased to $0.37 per share, enhancing shareholder returns.
- Reported net income of $10.1 million for Q4 2020, a significant increase from $4.58 million in Q4 2019.
- Annual net income for 2020 increased 59% to $32.89 million, showcasing strong performance.
Negative
- Q4 2020 net income decreased from $11.86 million in Q3, indicating sequential decline.
Details
News Market Reaction – NRIM
The recorded move for NRIM in the trading session of this news was +5.31%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
ANCHORAGE, Alaska, Feb. 26, 2021 (GLOBE NEWSWIRE) -- Northrim BanCorp, Inc. (NASDAQ: NRIM) today announced that the Board of Directors increased its regular quarterly cash dividend to
“We continue to generate profitable operations, which sustains our ability to steadily increase cash dividends for the twelfth consecutive year,” said Joe Schierhorn, President and CEO. At the stock price of
On February 1, 2021, Northrim reported earnings of
About Northrim BanCorp
Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with 17 branches in Anchorage, the Matanuska Valley, Juneau, Fairbanks, Ketchikan, Sitka and Soldotna, and a loan production office in Kodiak, serving
| Contact: | Joe Schierhorn, President, CEO, and COO | ||
| (907) 261-3308 | |||
| Jed Ballard, Chief Financial Officer | |||
| (907) 261-3539 |
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