Surpassing Expectations: First Bancorp Unleashes Growth Potential and Rewards Investors
As the day concludes, First Bancorp (NASDAQ:FNLC) is preparing to distribute a dividend payout of $0.35 per share, resulting in an annualized dividend yield of 5.99%. This payout is exclusive to investors who held the stock before the ex-dividend date on October 06, 2023.
First Bancorp Recent Dividend Payouts
| Ex-Date | Payments per year | Dividend | Yield | Announced | Record | Payable |
|---|---|---|---|---|---|---|
| 2023-10-06 | 4 | $0.35 | 5.99% | 2023-09-28 | 2023-10-10 | 2023-10-20 |
| 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 |
With a dividend yield that places it neither at the top nor the bottom, First Bancorp finds itself in the middle among its industry peers, while First of Long Island (NASDAQ:FLIC) boasts the highest annualized dividend yield at 8.00%.
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 experienced a growth in earnings per share, with an increase from $2.33 to $3.57. This positive earnings trend indicates the company's potential to enhance their cash dividend payout, which can benefit income-seeking investors.
Recap
This article delves into the recent dividend payout of First Bancorp and its implications for shareholders. Presently, the company is distributing a dividend of $0.35 per share, leading to an annualized dividend yield of 5.99%.
With a dividend yield that places it neither at the top nor the bottom, First Bancorp finds itself in the middle among its industry peers, while First of Long Island boasts the highest annualized dividend yield at 8.00%.
Considering the increase in dividend per share from 2019 to 2022 along with an increase in earnings per share, First Bancorp appears to be in a strong financial position, indicating their ability to sustain dividend distributions to investors.
Investors are advised to closely monitor the company's performance in the upcoming quarters to stay informed about any fluctuations in financials or dividend disbursements.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.