Northwest Bancshares Announces First Quarter 2024 Earnings, Quarterly Dividend
April 27, 2024 at 1:00 a.m.
COLUMBUS, OHIO - Northwest Bancshares Inc. announced net income for the quarter ended March 31 of $29 million, or $0.23 per diluted share. This represents a decrease of $5 million, or 13%, compared to the same quarter last year, when net income was $34 million, or $0.26 per diluted share. The annualized returns on average shareholders’ equity and average assets for the quarter ended March 31 were 7.57% and 0.81% compared to 9.11% and 0.97% for the same quarter last year.
The company also announced that its board of directors declared a quarterly cash dividend of $0.20 per share payable on May 15 to shareholders of record as of May 2. This is the 118th consecutive quarter in which the company has paid a cash dividend. Based on the market value of the company’s common stock as of March 31, this represents an annualized dividend yield of approximately 6.9%.
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COLUMBUS, OHIO - Northwest Bancshares Inc. announced net income for the quarter ended March 31 of $29 million, or $0.23 per diluted share. This represents a decrease of $5 million, or 13%, compared to the same quarter last year, when net income was $34 million, or $0.26 per diluted share. The annualized returns on average shareholders’ equity and average assets for the quarter ended March 31 were 7.57% and 0.81% compared to 9.11% and 0.97% for the same quarter last year.
The company also announced that its board of directors declared a quarterly cash dividend of $0.20 per share payable on May 15 to shareholders of record as of May 2. This is the 118th consecutive quarter in which the company has paid a cash dividend. Based on the market value of the company’s common stock as of March 31, this represents an annualized dividend yield of approximately 6.9%.