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

Northeast Community Bancorp, Inc. (NASDAQ:NECB) declared a quarterly dividend on Thursday, September 19th, Zacks reports. Investors of record on Friday, October 4th will be paid 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 yield of 4.84%. The ex-dividend date of this dividend is Friday, October 4th. This is a positive change from Northeast Community Bancorp’s previous quarterly dividend of $0.10.

Northeast Community Bancorp has raised its dividend by an average of 17.2% per year over the last three years. Northeast Community Bancorp has a dividend payout ratio of 20.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Northeast Community Bancorp to earn $2.99 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 20.1%.

Northeast Community Bancorp Trading Down 6.2 %

Shares of Northeast Community Bancorp stock opened at $24.81 on Wednesday. The business has a 50-day moving average price of $22.60 and a two-hundred day moving average price of $18.89. Northeast Community Bancorp has a 1-year low of $13.93 and a 1-year high of $26.79. The company has a market cap of $348.16 million, a P/E ratio of 7.68 and a beta of 0.58.

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

About Northeast Community Bancorp

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.