HUNTINGTON, Ind., Oct. 30, 2013 /PRNewswire/ -- The Board of Directors of Northeast Indiana Bancorp, Inc., (OTCQB: NIDB), the parent company of First Federal Savings Bank, is proud to announce the Corporation has increased the cash dividend paid to shareholders for the 19th year in row.
The cash dividend of $0.195 per common share represents a 2.6% increase over the Company's previous quarterly dividend. President and CEO Michael S. Zahn stated, "The Company continues to perform at a very high level as evidenced by $2.22 earnings per common share over the past four quarters. The Board of Directors feels a strong cash dividend coupled with our share repurchase program provides good value to our shareholders." The dividend will be payable on November 26, 2013 to shareholders of record on November 12, 2013. This makes an annualized dividend yield of 3.7% based on a closing price of $21.05 per common share, which was the last reported trade on October 29, 2013.
The book value of NIDB's stock was $22.42 per common share as of September 30, 2013 with 1,231,946 shares outstanding. Northeast Indiana Bancorp, Inc. is headquartered at 648 N. Jefferson Street, Huntington, Indiana. The company offers a full array of banking and financial brokerage services to its customers through its main office in Huntington and five full-service Indiana offices in Huntington (2), Warsaw and Fort Wayne(2). The Company is traded on the OTC Markets Group, Inc. (www.otcmarkets.com) utilizing the OTCQB platform under the symbol "NIDB". Our web site address is www.firstfedindiana.com.
SOURCE Northeast Indiana Bancorp, Inc.