HUNTINGTON, Ind., Oct. 29, 2014 /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 20th year in row.
The cash dividend of $0.20 per
common share represents a 2.6% increase over the Company's previous
quarterly dividend. President and CEO Michael S. Zahn stated, "With our continued
strong financial performance, I'm pleased to announce that the
Board of Directors has elected to reward our shareholders with an
increase in the cash dividend. This is the 20th
consecutive year we've been able to increase the cash dividend to
our owners." The dividend will be payable on November 25, 2014 to shareholders of record on
November 11, 2014. This makes
an annualized dividend yield of 3.1% based on a closing price of
$26.00 per common share, which was
the last reported trade on October 28,
2014.
The book value of NIDB's stock was $24.66 per common share as of September 30, 2014 with 1,199,879 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.