Camden National Corporation (CAC) will raise its quarterly dividend by 8.7 percent to $0.25 per share in the first quarter of 2018. This marks the fifth consecutive year of dividend increases for the bank holding company.

The increased dividend is payable on January 31, 2018 to shareholders of record on January 15, 2018. Camden National currently has an estimated dividend yield of 2.1%. The stock has lost 2.5 percent year-to-date (dividends excluded).

"Our strong financial performance has resulted in a solid capital base which allows for a 9% increase in our quarterly dividend rate and provides flexibility in the future," said Dufour. "We believe that our capital is also sufficient to absorb a write down of our deferred tax assets should current tax reform plans be adopted."

Camden National Corporation is the holding company of Camden National Bank, a diversified financial services provider. The Company, through the Bank, offers commercial and consumer banking products and services, and through Camden Financial Consultants and Camden National Wealth Management, divisions of the Bank, brokerage and insurance services, as well as investment management and fiduciary services.