Camden National Corporation (CAC) will raise its quarterly dividend by another 11.1 percent to 40 cents per share. This follows a 9.1 percent increase to 36 cents per share earlier in 2021 by the bank holding company. The FY 2021 dividend hike is 21.2 percent.
This quarterly payout results in an annualized dividend yield of 3.52% based on the December 20, 2021 closing price of the Company's common stock at $45.47 per share as reported by NASDAQ. The dividend is payable on January 31, 2022 to shareholders of record on January 14, 2022.
"For the second time this year, we are pleased to announce an increase in our quarterly dividend payment to our shareholders," said Dufour. "A 21% increase in our quarterly dividend aligns with our focus on rewarding shareholders while maintaining sufficient capital levels."
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.