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

Northeast Community Bancorp, Inc. (NASDAQ:NECB) declared a quarterly dividend on Thursday, September 19th, Zacks reports. Shareholders of record on Friday, October 4th will be given 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 yield of 4.88%. The ex-dividend date is Friday, October 4th. This is an increase 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 20.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Northeast Community Bancorp to earn $2.99 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 20.1%.

Northeast Community Bancorp Stock Performance

NECB stock opened at $24.60 on Thursday. Northeast Community Bancorp has a one year low of $13.93 and a one year high of $26.79. The firm has a market cap of $345.21 million, a price-to-earnings ratio of 7.62 and a beta of 0.59. The firm has a 50-day simple moving average of $22.65 and a two-hundred day simple moving average of $18.93.

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