|By Marketwired .||
|February 12, 2014 03:15 PM EST||
NORTH CONWAY, NH -- (Marketwired) -- 02/12/14 -- The Board of Directors of Northway Financial, Inc. (the "Company") (OTCQB: NWYF) has declared a semi-annual common stock cash dividend of $0.32 per share, payable on March 3, 2014, to stockholders of record on February 24, 2014. The payment of this dividend results in a 26% payout ratio based on net income available to common stockholders. Based on a share price of $16.83 on February 11, 2014, this semi-annual dividend, when annualized, results in a divided yield of approximately 3.8%. The Company's common stock is available through brokers and is traded on the OTC Bulletin Board under the stock symbol "NWYF."
Northway Financial, Inc., headquartered in North Conway, New Hampshire, is a bank holding company. Through its subsidiary bank, Northway Bank, the Company offers a broad range of financial products and services to individuals, businesses and the public sector from its 18 full-service banking offices and its loan production offices located in Bedford and Portsmouth, New Hampshire.
Statements included in this press release that are not historical or current fact are "forward-looking statements" made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. Northway Financial, Inc. disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements, or to reflect the occurrence of anticipated or unanticipated events or circumstances.
Russell A. Cronin, Jr.
Senior Vice President
and Chief Financial Officer