Northeast Community Bancorp, Inc. (NASDAQ:NECB) Increases Dividend to $0.30 Per Share

Northeast Community Bancorp, Inc. (NASDAQ:NECB) announced a quarterly dividend on Thursday, September 19th, Zacks reports. Investors of record on Friday, October 4th will be given a dividend of 0.30 per share by the savings and loans company on Wednesday, November 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Friday, October 4th. This is an increase from Northeast Community Bancorp’s previous quarterly dividend of $0.10.

Northeast Community Bancorp has increased its dividend payment by an average of 17.2% annually over the last three years. Northeast Community Bancorp has a dividend payout ratio of 14.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Northeast Community Bancorp to earn $2.71 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 14.8%.

Northeast Community Bancorp Stock Up 2.0 %

Shares of NASDAQ NECB opened at $23.70 on Friday. The company has a market cap of $332.58 million, a P/E ratio of 7.34 and a beta of 0.58. Northeast Community Bancorp has a 52 week low of $13.93 and a 52 week high of $23.82. The business has a 50-day simple moving average of $21.97 and a two-hundred day simple moving average of $18.35.

Northeast Community Bancorp (NASDAQ:NECB) last released its quarterly earnings data on Monday, July 22nd. The savings and loans company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.25. The company had revenue of $40.97 million during the quarter, compared to analyst estimates of $24.69 million. Northeast Community Bancorp had a net margin of 31.34% and a return on equity of 16.87%. Equities research analysts anticipate that Northeast Community Bancorp will post 2.94 EPS for the current year.

Northeast Community Bancorp Company Profile

Northeast Community Bancorp, Inc operates as the holding company for NorthEast Community Bank that provides financial services for individuals and businesses. It accepts various deposit instruments, including checking accounts, money market accounts, regular savings accounts, and non-interest bearing demand accounts, as well as certificates of deposits.