Northrim BanCorp Exceeds Expectations with Strong Performance, Driving Profits and Rewarding Investors
By the end of today, September 15, 2023, Northrim BanCorp (NASDAQ:NRIM) is set to deliver a dividend payout of $0.60 per share, equating to an annualized dividend yield of 5.62%. Shareholders who owned the stock prior to the ex-dividend date on September 06, 2023 will receive this payout.
Northrim BanCorp Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2023-09-06 | 4 | $0.6 | 5.62% | 2023-08-25 | 2023-09-07 | 2023-09-15 |
| 2023-06-07 | 4 | $0.6 | 6.19% | 2023-05-26 | 2023-06-08 | 2023-06-16 |
| 2023-03-08 | 4 | $0.6 | 4.57% | 2023-02-24 | 2023-03-09 | 2023-03-17 |
| 2022-12-14 | 4 | $0.5 | 3.58% | 2022-12-02 | 2022-12-15 | 2022-12-23 |
| 2022-09-07 | 4 | $0.5 | 4.94% | 2022-08-26 | 2022-09-08 | 2022-09-16 |
| 2022-06-08 | 4 | $0.41 | 3.94% | 2022-05-27 | 2022-06-09 | 2022-06-17 |
| 2022-03-09 | 4 | $0.41 | 3.95% | 2022-02-25 | 2022-03-10 | 2022-03-18 |
| 2021-12-15 | 4 | $0.38 | 3.43% | 2021-12-03 | 2021-12-16 | 2021-12-23 |
| 2021-09-08 | 4 | $0.38 | 3.74% | 2021-08-27 | 2021-09-09 | 2021-09-17 |
| 2021-06-09 | 4 | $0.37 | 3.43% | 2021-05-28 | 2021-06-10 | 2021-06-18 |
| 2021-03-10 | 4 | $0.37 | 4.05% | 2021-02-26 | 2021-03-11 | 2021-03-19 |
| 2020-12-16 | 4 | $0.35 | 4.34% | 2020-12-04 | 2020-12-17 | 2020-12-24 |
Northrim BanCorp is the leader in terms of dividend yield compared to its industry peers, with BCB Bancorp (NASDAQ:BCBP) having the highest annualized dividend yield at 5.33%.
Analyzing Northrim 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 $1.26 in 2019 to $1.82 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 Northrim BanCorp
The earnings chart illustrates an increase in Northrim BanCorp's earnings per share, from $3.04 in 2019 to $5.10 in 2022. This positive earnings growth provides income-seeking investors with optimism, as it suggests potential for higher cash dividend payouts in the future.
Recap
This article takes an in-depth look at Northrim BanCorp's recent dividend payout and its implications for shareholders. The company is currently distributing a dividend of $0.60 per share today, translating to an annualized dividend yield of 5.62%.
Northrim BanCorp is the leader in terms of dividend yield compared to its industry peers, with BCB Bancorp having the highest annualized dividend yield at 5.33%.
Considering the increase in dividend per share from 2019 to 2022 along with an increase in earnings per share, Northrim BanCorp appears to be in a strong financial position, indicating their ability to sustain dividend distributions to investors.
Investors are encouraged to closely track the company's performance in the upcoming quarters to stay informed of any updates in financials or dividend disbursements.
[Click here](https://www.benzinga.com/stock//dividends) to find details on Northrim BanCorp's previous dividends.
To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.
This article was generated by Benzinga's automated content engine and reviewed by an editor.