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NBT Bancorp to pay quarterly dividend of 28 cents a share in first quarter

NBT Bank branch in Camillus. (CNYBJ File Photo by Adam Rombel)

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 first quarter of this year. The payment is unchanged from each of the last two quarters but up by 3.7 percent from the 27 cents a share that […]

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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 first quarter of this year.

The payment is unchanged from each of the last two quarters but up by 3.7 percent from the 27 cents a share that NBT investors received in the first quarter of 2021.

The Norwich–based banking company will pay the dividend on March 15, to shareholders of record as of March 1. The dividend represents an annual yield of about 2.9 percent, based on NBT’s current stock price.

NBT Bancorp also reported that its net income in the fourth quarter rose more than 9 percent to $37.3 million from almost $34.2 million a year prior. The increase was primarily due to higher net interest income and noninterest income, partly offset by a larger provision for loan losses, the company said. NBT’s earnings per share went up more than 10 percent to 86 cents in the latest quarter compared to 78 cents in the fourth quarter of 2020.

NBT Bancorp is a financial holding company with total assets of $12 billion as of Dec. 31. 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, LLC.

Jornal Staff