Northeast Indiana Bancorp, Inc. Increases Quarterly Cash Dividend, Payable on November 25, 2022
October 28, 2022 at 12:30 am IST
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Northeast Indiana Bancorp, Inc. announce the Corporation has increased the cash dividend paid to shareholders for the 28th year in a row. The cash dividend of $0.32 per common share per quarter represents a $0.02 per share, or 6.7%, increase over the Company's previous quarterly dividend. The dividend will be payable on November 25, 2022 to shareholders of record on November 10, 2022.
This makes an annualized dividend yield of 3.1% based on a closing price of $41.50 per common share, which was the last reported trade on October 24, 2022. The book value of NIDB's stock was $34.85 per common share as of September 30, 2022 with 1,205,135 shares outstanding.
Northeast Indiana Bancorp, Inc. is the holding company for First Federal Savings Bank (First Federal). First Federal offers a full array of banking and financial advisory services to its customers through three full-service locations in Huntington, Indiana, one full-service location in Warsaw, Indiana and two full-service locations in Fort Wayne, Indiana. The Bankâs personal banking includes checking, savings/certificate of deposits (CDs), health savings accounts, retirement accounts, direct deposit, credit cards, debit cards, checking, loans, safety deposit boxes and online banking. Its business banking includes business checking accounts, business debit cards, merchant services and cash management. Its financial services include investments, insurance, wealth management and corporate retirement accounts. Its subsidiaries include FFSB Portfolio Holdings, Inc. and FFSB Real Estate Holdings, Inc.
NORTHEAST INDIANA BANCORP, INC. 
