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NBT Bancorp boosts quarterly dividend by nearly 4 percent

The NBT Bank branch on Route 31 in the town of Lysander. (ADAM ROMBEL/ CNYBJ FILE PHOTO)

NORWICH, N.Y. — NBT Bancorp Inc. (NASDAQ: NBTB) recently announced that its board of directors has approved a cash dividend of 28 cents per share for the fourth quarter. The payment is unchanged from the last quarter but up by 3.7 percent from 27 cents a share in the fourth quarter of 2020. The Norwich–based […]

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NORWICH, N.Y. — NBT Bancorp Inc. (NASDAQ: NBTB) recently announced that its board of directors has approved a cash dividend of 28 cents per share for the fourth quarter.

The payment is unchanged from the last quarter but up by 3.7 percent from 27 cents a share in the fourth quarter of 2020.

The Norwich–based banking company will pay the dividend on Dec. 15, to shareholders of record as of Dec. 1. The dividend represents a yield of about 3.05 percent based on NBT’s current stock price.

NBT Bancorp also reported that its net income rose 6.6 percent to $37.4 million in the third quarter from $35.1 million a year prior. The increase was primarily due to changes in the estimated impact of the COVID-19 pandemic on expected credit losses. The banking company’s earnings per share rose almost 7.5 percent to 86 cents in this year’s third quarter from 80 cents in the third quarter of 2020.

NBT Bancorp is a financial holding company with total assets of $12 billion as of Sept. 30. The banking company primarily operates through NBT Bank, N.A. — a full-service community bank with 140 branches in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine, and Connecticut — and through two financial-services companies: EPIC Retirement Plan Services and NBT Insurance Agency.

Jornal Staff