Northeast Community Bancorp, Inc. (NASDAQ:NECB) to Issue Quarterly Dividend of $0.30

Northeast Community Bancorp, Inc. (NASDAQ:NECB) announced a quarterly dividend on Thursday, September 19th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Friday, October 4th. This is a boost 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 14.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NECB stock opened at $23.70 on Friday. The firm has a market cap of $332.58 million, a price-to-earnings 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 firm’s 50-day simple moving average is $21.97 and its two-hundred day simple moving average is $18.35.

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