Northeast Community Bancorp, Inc. (NASDAQ:NECB) Declares Dividend Increase – $0.20 Per Share

Northeast Community Bancorp, Inc. (NASDAQ:NECB) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders of record on Monday, April 7th will be paid a dividend of 0.20 per share by the savings and loans company on Tuesday, May 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.42%. This is a 33.3% increase from Northeast Community Bancorp’s previous quarterly dividend of $0.15.

Northeast Community Bancorp has increased its dividend payment by an average of 35.2% per year over the last three years. Northeast Community Bancorp has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Northeast Community Bancorp to earn $3.17 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 18.9%.

Northeast Community Bancorp Stock Performance

Shares of NECB opened at $23.41 on Friday. Northeast Community Bancorp has a 1-year low of $14.84 and a 1-year high of $31.72. The company has a market capitalization of $328.28 million, a P/E ratio of 6.54 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.14. The firm’s 50 day simple moving average is $23.96 and its 200 day simple moving average is $25.48.

Northeast Community Bancorp (NASDAQ:NECB) last posted its quarterly earnings data on Wednesday, January 29th. The savings and loans company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.02). Northeast Community Bancorp had a net margin of 29.36% and a return on equity of 15.96%. Sell-side analysts forecast that Northeast Community Bancorp will post 3.04 earnings per share 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.