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DAMARISCOTTA, Maine - The First Bancorp (NASDAQ:FNLC), a $278.6 million market cap regional bank, announced Thursday it will increase its quarterly cash dividend by one cent to 37 cents per share. The dividend will be payable July 18, 2025, to shareholders of record as of July 8, 2025. According to InvestingPro data, the bank has maintained dividend payments for 27 consecutive years.
This marks the company’s 11th consecutive year of raising its second-quarter dividend by at least one cent, according to a press release statement from the Maine-based financial institution.
"The one cent increase in the dividend is reflective of the Board’s ongoing commitment to having shareholders meaningfully participate in the Company’s success," said Tony C. McKim, President and Chief Executive Officer of First Bancorp.
Based on the June 25 closing price of $24.70, the annualized dividend of $1.48 per share represents a yield of 5.99%.
The First Bancorp serves as the parent company of First National Bank, which was founded in 1864 and operates 18 offices across six Maine counties: Lincoln, Knox, Hancock, Penobscot, Waldo and Washington. The bank provides consumer and commercial banking products and services, while its wealth management division offers investment management and trust services from five offices in the region.
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