On December 20, 2022, Camden National Corporation (CAC) declared a new quarterly dividend of $0.42 per share to be paid on January 31, 2023. This marks 10 straight years of dividend growth for the financial services provider. Last year CAC announced a much bigger dividend hike of 21.2% with two smaller increases announced in 2021.

This quarterly payout results in an annualized dividend yield of 4.10% based on the December 19, 2022 closing price of the Company's common stock at $40.95 per share as reported by NASDAQ. The dividend is payable on January 31, 2023 to shareholders of record on January 13, 2023. 

"We are pleased to announce a 5% increase in our dividend to shareholders," said Dufour. "Over the past ten years, we have increased our cash dividend from $0.67 to now $1.68 per common share on an annualized basis, a 151% increase. This highlights our ability to generate long-term sustainable earnings as well as our commitment to our shareholders."

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.