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CAMDEN, Maine - Camden National Corporation (NASDAQ: CAC), the largest bank holding company in Northern New England, has declared a quarterly dividend of $0.42 per share, as announced today by Simon R. Griffiths, the company’s President and CEO. The declared dividend corresponds to an annualized yield of 4.0%, based on the closing price of the company’s common stock at $42.01 on March 24, 2025. According to InvestingPro, the company has maintained dividend payments for 29 consecutive years, demonstrating strong commitment to shareholder returns.
Shareholders of record as of April 15, 2025, will receive the dividend payment on April 30, 2025. This financial institution, which was established in 1875, currently manages assets worth approximately $7.0 billion. Camden National Bank operates 73 branches across Maine and New Hampshire, offering a suite of digital banking services alongside personalized customer service. Trading at a P/E ratio of 11.55 with a market capitalization of $701.58 million, InvestingPro analysis indicates the stock is currently fairly valued.
The bank’s recent expansion includes the completion of a merger with Northway Financial, Inc., finalized on January 2, 2025, which has contributed to its current asset and branch portfolio. In addition to traditional banking services, Camden National Wealth Management provides a range of wealth management, investment, and financial planning services.
The company’s strategic financial decisions, such as the recent dividend declaration, are based on its commitment to delivering value to its shareholders. The information regarding the dividend declaration is based on a press release statement from Camden National Corporation.
In other recent news, Camden National Corporation reported strong financial results for the fourth quarter of 2024, with earnings per share of $1.03, surpassing the forecast of $0.88. The company also achieved revenue of $47.57 million, exceeding expectations by over $2 million. This performance was driven by a robust pre-provision net revenue, with contributions from spread income, fee income, and effective expense management. Additionally, Camden National’s merger with Northway Financial has bolstered its asset growth, expanding its total assets to $7 billion. In analyst updates, Keefe, Bruyette & Woods increased Camden National’s price target to $50, reflecting a positive outlook on the company’s net interest margin and overall performance, while maintaining a Market Perform rating. Furthermore, Camden National appointed Raina L. Maxwell to its Board of Directors, aiming to enhance leadership and sustain its market position. These developments highlight Camden National’s strategic initiatives and strong financial management.
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