Northwest Bancshares, Inc. Accelerates Dividend Declaration
WARREN, Pa., Dec. 6, 2012
WARREN, Pa., Dec. 6, 2012 /PRNewswire/ --Northwest Bancshares, Inc.
(NasdaqGS: NWBI) announced that its Board of Directors declared a quarterly
cash dividend of $0.12 per share for the first quarter of 2013 and is
accelerating its payment into the fourth quarter of 2012. The cash dividend
is payable on December 24, 2012, to shareholders of record as of December 17,
In making this announcement, William J. Wagner, President and CEO, noted,
"Considering current deficit reduction negotiations and potential increases in
federal income tax rates on dividends next year, we felt it would be
beneficial to our shareholders to accelerate the dividend payment that
normally would have been received in February 2013."
Headquartered in Warren, Pennsylvania, Northwest Bancshares, Inc. is the
holding company of Northwest Savings Bank. Founded in 1896, Northwest Savings
Bank is a full-service financial institution offering a complete line of
business and personal banking products as well as benefits and wealth
management services. Northwest operates 166 community banking offices in
Pennsylvania, New York, Ohio and Maryland and 52 consumer finance offices in
Pennsylvania through its subsidiary, Northwest Consumer Discount Company.
Northwest Bancshares, Inc.'s common stock is listed on the NASDAQ Global
Select Market. Additional information regarding Northwest Bancshares, Inc. can
be accessed on-line at www.northwestsavingsbank.com.
Forward-Looking Statements - This release may contain forward-looking
statements with respect to the financial condition and results of operations
of Northwest Bancshares, Inc. including, without limitations, statements
relating to the earnings outlook of the Company. These forward-looking
statements involve certain risks and uncertainties. Factors that may cause
actual results to differ materially from those contemplated by such
forward-looking statements, include among others, the following possibilities:
(1) changes in the interest rate environment; (2) competitive pressure among
financial services companies; (3) general economic conditions including an
increase in non-performing loans that could result from an economic downturn;
(4) changes in legislation or regulatory requirements; (5) difficulties in
continuing to improve operating efficiencies; (6) difficulties in the
integration of acquired businesses; and (7) increased risk associated with an
increase in commercial real-estate and business loans and non-performing
loans. Management has no obligation to revise or update these forward-looking
statements to reflect events or circumstances that arise after the date of
SOURCE Northwest Bancshares, Inc.
Contact: William J. Wagner, President and Chief Executive Officer,
+1-814-726-2140; or William W. Harvey, Jr., Executive Vice President and Chief
Financial Officer, +1-814-726-2140
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