Northeast Community Bancorp, Inc. (NASDAQ:NECB) Raises Dividend to $0.20 Per Share

Northeast Community Bancorp, Inc. (NASDAQ:NECB) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Shareholders of record on Monday, April 7th will be paid a dividend of 0.20 per share by the savings and loans company on Tuesday, May 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, April 7th. This is a 33.3% increase from Northeast Community Bancorp’s previous quarterly dividend of $0.15.

Northeast Community Bancorp has increased its dividend payment by an average of 35.2% per year over the last three years. Northeast Community Bancorp has a dividend payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Northeast Community Bancorp to earn $3.17 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 25.2%.

Northeast Community Bancorp Price Performance

Shares of NASDAQ:NECB opened at $21.13 on Friday. The firm has a market cap of $296.31 million, a price-to-earnings ratio of 5.90 and a beta of 0.42. Northeast Community Bancorp has a 1 year low of $14.84 and a 1 year high of $31.72. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.02. The business has a fifty day simple moving average of $23.57 and a 200 day simple moving average of $25.54.

Northeast Community Bancorp (NASDAQ:NECB) last posted its quarterly earnings results on Wednesday, January 29th. The savings and loans company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.02). Northeast Community Bancorp had a return on equity of 15.96% and a net margin of 29.36%. As a group, sell-side analysts predict that Northeast Community Bancorp will post 3.04 earnings per share for the current fiscal 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.