Northeast Bancorp (NASDAQ:NBN) Declares Quarterly Dividend of $0.01

Northeast Bancorp (NASDAQ:NBN) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Friday, August 14th will be given a dividend of 0.01 per share by the financial services provider on Friday, August 28th. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date is Thursday, August 13th.

Northeast Bancorp has a dividend payout ratio of 2.2% indicating that its dividend is sufficiently covered by earnings.

NASDAQ NBN traded down $0.25 during mid-day trading on Friday, hitting $18.45. The company’s stock had a trading volume of 522 shares, compared to its average volume of 50,427. Northeast Bancorp has a 52-week low of $6.20 and a 52-week high of $23.98. The stock’s fifty day simple moving average is $15.86 and its two-hundred day simple moving average is $16.37. The firm has a market capitalization of $166.43 million, a P/E ratio of 7.22 and a beta of 1.73.

Separately, ValuEngine lowered shares of Northeast Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday.

About Northeast Bancorp

Northeast Bancorp operates as the bank holding company for Northeast Bank that provides banking products and services to individual and corporate customers in the United States. The company's deposit products include noninterest-bearing demand deposit, savings, NOW, and money market accounts, as well as certificate of deposit accounts.

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Dividend History for Northeast Bancorp (NASDAQ:NBN)

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