The Board of Directors of The First Bancorp, the parent company of First
National Bank, declared a quarterly dividend today of 22 cents per
share. This first-quarter dividend is payable April 29, 2016, to
shareholders of record as of April 6, 2016, and is equal to the 22 cents
per share the Company paid in the past three quarters.
“Based on last night’s closing price of $18.63 per share, our dividend
yield is a very healthy 4.74%,” observed Tony C. McKim, the Company’s
President and Chief Executive Officer. “We are coming off a record year
in 2015, and we continue to pay out more than half of our earnings to
our shareholders in the form of cash dividends. We remain confident in
our view that this generous dividend payout is very important to our
shareholders. It remains a key component in our total return and the
valuation of our shares.”
The First Bancorp (NASDAQ: FNLC), is the parent company of First
National Bank headquartered in Damariscotta, Maine. First National Bank
is an independent community bank founded in 1864 which serves Mid-Coast
and Down East Maine with 16 offices in Lincoln, Knox, Hancock, Penobscot
and Washington Counties. The Bank provides a full range of consumer and
commercial banking products and services. The Bank also provides
investment advisory, private banking and trust services through First
Advisors, its investment management division.
Forward-looking and cautionary statements: except for the historical
information and discussions contained herein, statements contained in
this release may constitute “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements involve a number of risks, uncertainties and other factors
that could cause actual results and events to differ materially, as
discussed in the Company's filings with the Securities and Exchange
Commission.
For more information, please contact F. Stephen Ward, the First
Bancorp's Treasurer & Chief Financial Officer, at 207.563.3272.
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