Northeast Bancorp (NASDAQ:NBN) Plans 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 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, August 13th.

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

Shares of NASDAQ:NBN traded down $0.25 during midday trading on Friday, reaching $18.45. The company had a trading volume of 522 shares, compared to its average volume of 50,427. Northeast Bancorp has a 1-year low of $6.20 and a 1-year high of $23.98. The firm has a market cap of $166.43 million, a price-to-earnings ratio of 7.12 and a beta of 1.73. The company has a fifty day simple moving average of $15.86 and a two-hundred day simple moving average of $16.37.

Separately, ValuEngine lowered Northeast Bancorp from a “sell” rating to a “strong sell” rating in a research report 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.

See Also: What is the Difference Between Common Shares and Convertible Shares?

Dividend History for Northeast Bancorp (NASDAQ:NBN)

Receive News & Ratings for Northeast Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northeast Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.