Northrim BanCorp hikes dividend by 2.9%
Northrim BanCorp (NRIM) will raise its regular quarterly cash dividend by another 2.9 percent to 35 cents per share. Earlier the community bank had announced a dividend hike to $0.34 per share, marking the 11th consecutive year of dividend increases by the company.
The next dividend will be payable on September 18, 2020, to shareholders of record at the close of business on September 10, 2020. At the stock price of $26.01 per share at the close of the market on August 27, 2020, the current dividend equates to a yield of 5.38% on an annualized basis.
“We believe providing a consistent quarterly cash dividend is an excellent means of providing value to our shareholders, especially during these uncertain times,” said Joe Schierhorn, President and CEO.
Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with 16 branches in Anchorage, the Matanuska Valley, Juneau, Fairbanks, Ketchikan, Sitka and Soldotna, serving 90% of Alaska’s population; and an asset based lending division in Washington; and a wholly-owned mortgage brokerage company, Residential Mortgage Holding Company, LLC. The Bank differentiates itself with its detailed knowledge of Alaska’s economy and its “Customer First Service” philosophy. Pacific Wealth Advisors, LLC is an affiliated company of Northrim BanCorp.
The next dividend will be payable on September 18, 2020, to shareholders of record at the close of business on September 10, 2020. At the stock price of $26.01 per share at the close of the market on August 27, 2020, the current dividend equates to a yield of 5.38% on an annualized basis.
“We believe providing a consistent quarterly cash dividend is an excellent means of providing value to our shareholders, especially during these uncertain times,” said Joe Schierhorn, President and CEO.
Northrim BanCorp, Inc. is the parent company of Northrim Bank, an Alaska-based community bank with 16 branches in Anchorage, the Matanuska Valley, Juneau, Fairbanks, Ketchikan, Sitka and Soldotna, serving 90% of Alaska’s population; and an asset based lending division in Washington; and a wholly-owned mortgage brokerage company, Residential Mortgage Holding Company, LLC. The Bank differentiates itself with its detailed knowledge of Alaska’s economy and its “Customer First Service” philosophy. Pacific Wealth Advisors, LLC is an affiliated company of Northrim BanCorp.
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