Achieving Growth and Investor Rewards: First Bancorp Flourishes with Strong Performance and Rising Profits
By the close of today, July 20, 2023, First Bancorp (NASDAQ:FNLC) will issue a dividend payout of $0.35 per share, resulting in an annualized dividend yield of 5.78%. Only those investors who owned the stock prior to the ex-dividend date on July 07, 2023 will receive this payout.
First Bancorp Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2023-07-07 | 4 | $0.35 | 5.78% | 2023-06-29 | 2023-07-10 | 2023-07-20 |
| 2023-04-06 | 4 | $0.34 | 5.18% | 2023-03-30 | 2023-04-10 | 2023-04-20 |
| 2023-01-06 | 4 | $0.34 | 4.54% | 2022-12-15 | 2023-01-09 | 2023-01-20 |
| 2022-10-04 | 4 | $0.34 | 4.76% | 2022-09-21 | 2022-10-05 | 2022-10-21 |
| 2022-07-08 | 4 | $0.34 | 4.55% | 2022-06-30 | 2022-07-11 | 2022-07-22 |
| 2022-04-08 | 4 | $0.32 | 4.26% | 2022-03-31 | 2022-04-11 | 2022-04-22 |
| 2022-01-07 | 4 | $0.32 | 4.04% | 2021-12-30 | 2022-01-10 | 2022-01-21 |
| 2021-10-08 | 4 | $0.32 | 4.34% | 2021-09-30 | 2021-10-12 | 2021-10-22 |
| 2021-07-07 | 4 | $0.32 | 4.28% | 2021-06-24 | 2021-07-08 | 2021-07-19 |
| 2021-04-05 | 4 | $0.31 | 4.42% | 2021-03-25 | 2021-04-06 | 2021-04-16 |
| 2021-01-05 | 4 | $0.31 | 4.88% | 2020-12-17 | 2021-01-06 | 2021-01-19 |
| 2020-10-05 | 4 | $0.31 | 6.41% | 2020-09-24 | 2020-10-06 | 2020-10-16 |
In terms of dividend yield, First Bancorp finds itself in the middle ground among its industry peers, while Financial Institutions (NASDAQ:FISI) takes the lead with the highest annualized dividend yield at 6.87%.
Analyzing First Bancorp Financial Health
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing.
YoY Growth in Dividend Per Share
As you can see, from 2019 to 2022, investors saw an average increase in the company's dividend per share, rising from $1.19 in 2019 to $1.34 in 2022. This is good for investors because it shows that the company has steadily returned more capital back to their shareholders and it could mean that they are planning to continue increasing dividends.
YoY Earnings Growth For First Bancorp
From 2019 to 2022, First Bancorp has demonstrated an upward trend in earnings, with earnings per share rising from $2.33 to $3.57. This positive earnings growth bodes well for investors looking to generate income through cash dividend payouts.
Recap
In this article, we explore the recent dividend payout of First Bancorp and its significance for shareholders. The company has decided to distribute a dividend of $0.35 per share today, which equates to an annualized dividend yield of 5.78%.
In terms of dividend yield, First Bancorp finds itself in the middle ground among its industry peers, while Financial Institutions takes the lead with the highest annualized dividend yield at 6.87%.
Given that First Bancorp has experienced an increase in dividend per share from 2019 to 2022 along with an increase in earnings per share, it could signal that the company is in good financial standing and that they could be positioned to continue distributing their profits back to their investors.
Investors should closely follow the company's performance in the coming quarters to stay up-to-date on any shifts in financials or dividend disbursements.
This article was generated by Benzinga's automated content engine and reviewed by an editor.