Northway Financial, Inc. Declares Semi-Annual Cash Dividend of $0.32 per Share
NORTH CONWAY, NH -- (Marketwired) -- 02/12/14 -- The Board of
Directors of Northway Financial, Inc. (the "Company") (OTCQB: NWYF)
has declared a semi-annual common stock cash dividend of $0.32 per
share, payable on March 3, 2014, to stockholders of record on
February 24, 2014. The payment of this dividend results in a 26%
payout ratio based on net income available to common stockholders.
Based on a share price of $16.83 on February 11, 2014, this
semi-annual dividend, when annualized, results in a divided yield of
approximately 3.8%. The Company's common stock is available through
brokers and is traded on the OTC Bulletin Board under the stock
Northway Financial, Inc., headquartered in North Conway, New
Hampshire, is a bank holding company. Through its subsidiary bank,
Northway Bank, the Company offers a broad range of financial products
and services to individuals, businesses and the public sector from
its 18 full-service banking offices and its loan production offices
located in Bedford and Portsmouth, New Hampshire.
Statements included in this press release that are not historical or
current fact are "forward-looking statements" made pursuant to the
safe harbor provision of the Private Securities Litigation Reform Act
of 1995, and are subject to certain risks and uncertainties that
could cause actual results to differ materially from historical
earnings and those presently anticipated or projected. Northway
Financial, Inc. disclaims any obligation to subsequently revise any
forward-looking statements to reflect events or circumstances after
the date of such statements, or to reflect the occurrence of
anticipated or unanticipated events or circumstances.
Russell A. Cronin, Jr.
Senior Vice President
and Chief Financial Officer
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